Cuba’s First Cabinet Meet Under New President Tackles Tricky Economy

www.oann.com | 4/23/2018 | Staff
jenn1020 (Posted by) Level 3
HAVANA (Reuters) – Communist-run Cuba’s first cabinet meeting under new President Miguel Diaz-Canel focused on corruption and a cash crunch hurting the economy, state-run media reported on Thursday.

Diaz-Canel took office from his mentor Raul Castro last week, although the latter remains head of the ruling Communist Party, the island nation’s guiding political force.

Economy - Challenge - Diaz-Canel - View - Oil

Fixing the Soviet-style centralized economy is the most pressing challenge Diaz-Canel faces in view of declining oil shipments from socialist ally Venezuela and renewed tensions with old foe the United States that is hurting tourism.

Deputy Economy Minister Alejandro Gil Fernandez delivered a report on the economy’s performance in the first quarter of 2018 at the monthly cabinet meeting on Wednesday, state-run media reported.

Tensions - Availability - Currency - Exports - Difficulties

There were still “tensions over the availability of hard currency” because of weak exports, as well as difficulties in fuel supply, media cited him as saying.

Lower imports due to the liquidity crisis have been affecting Cuban factories’ ability to manufacture; production of...
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