Cuba Establishes Priorities to Boost Economic Development

When speaking at the plenary session at Havana’s Convention Center, where the Cuban Parliament is holding the third extraordinary session of the 9th Legislature, the minister noted that the national plan consists of three stages: 2019-2021, 2022-2026 and 2027-2030.

At present, priority focuses on the first stage, which implies allocating most resources to six strategic sectors due to their impact on the economy, although without neglecting the others, he pointed out.

According to Gil, the key sectors are tourism, food production, the biotechnological and pharmaceutical industry, professional services abroad, power generation and construction.

The minister pointed out that these areas currently represent 90 percent of the increase in Cuban exports by 2030, as well as 65 percent in terms of reducing imports.

Therefore, all six prioritized strategic sectors in the first stage of the development plan (2019-2021) are the main way to improve the domestic situation, translated into the people’s wellbeing and international trade relations, in a scenario of competitiveness, productivity and efficiency.

Gil insisted on the need for the Cuban economy to create chains among tourism, food production, the biotechnological and pharmaceutical industries, professional services abroad, power generation and construction.

Regarding the situation in each sector, the minister explained that tourism represents potential revenues in hard currency and pulls in other economic activities, such as the industry, food production and services, in addition to creating jobs in the territories.

In the case of biotechnology, it means the diversification of products that can be exported, thus contributing the necessary diversification of markets and the reduction of imports.

Gil stated that the power sector represents the support for the vital operation of the economy and the people’s wellbeing, with particular importance in the promotion of renewable energy sources.

Regarding food production, the minister underlined the need for Cuba to achieve food security, a matter of national security, by boosting supplies to the domestic market and tourism, as well as reducing imports and increasing exports.

In the case of professional services abroad, Gil pointed out that they stand out in health care, education, culture and sports, with an important capacity to increase revenues for the country.

Regarding the construction sector, the minister recognized before the National Assembly its role as the supporter of the physical, spatial, road, hydraulic and sanitary infrastructure of the country, and of urban and rural human settlements.

Gil warned about the context in which Cuba must advance towards its economic and social development, which is marked by economic tensions, mainly due to the escalation of Washington’s aggressiveness and the tightening of the blockade, which has been imposed for nearly 60 years.