LatinNews Daily - 13 January 2022

In brief: Cuba approves more MSMEs

* Cuba’s economy & planning ministry (MEP) has approved 98 new micro, small and medium-size enterprises (MSMEs) and one non-agricultural cooperative. In line with new legislation which took effect in September 2021, permitting MSMEs to incorporate for the first time since 1968, this brings the total number of MSMEs and non-agricultural cooperatives in the country to 1,450 (including 27 state MSMEs and 21 non-agricultural cooperatives), which the government says has created 27,277 new jobs. The legislation was the latest bid by the government to shore up the domestic economy, which shrank 11% in 2020 due to the coronavirus (Covid-19) pandemic and US economic sanctions. Last month the government forecast 2% GDP growth for 2021 (down from a previous forecast of 6%) and 4% GDP growth this year.

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