Raul Castro warns on challenges pending on Cuban economy

HAVANA, Cuba, Dec 27 (acn) Cuban President Raul Castro warned that the country´s economy will continue to face in 2017 the current financial tensions and economic challenges, but he predicted an improving trend for that time period.

In his closing speech at the Eight Session of the Cuban Parliament, the President said that the country´s GDP is expected to slightly grow by 2 percent next year. However, he said, to achieve such growth some conditions must be given.
He was talking about the need to secure on-time income derived from Cuban exports; increase national production to cut costly imports; lower non-crucial expenses and use available resources in a rational and efficient manner.
"Amidst these difficulties we will continue to implement our investment projects," Raul pointed out.
The head of state insisted in the need to make foreign investment a more dynamic process as he admitted dissatisfaction for excessive delays in negotiations. For this reason he called to change the old mindset against foreign capital and to put down fake fears about it since he noted "we are not returning to Capitalism."
The decrease in oil supply this year plus financial tensions led to a 0.9 percent fall in the country´s GDP, Raul recalled and added that in spite of that healthcare and education levels were kept high, the country was not affected by blackouts or underwent economic collapse as evilly predicted by some international media.