A cash short and crippled Cuban economy will grow 4% next year as the Communist-run country struggles to recover from an economic crisis, according to a report by the prime minister posted over the weekend.
said the economy began a slow recovery of around 2% this year after declining 10.9% in 2020 and stagnating for several years before that.
New U.S. sanctions on top of the decades-old trade embargo and the coronavirus pandemic cost the import-dependent nation at least $4 billion in revenues over the last two years, according to the government.The shortfall led to a 40% decline in imports and has hobbled the government's ability to provide Cubans with food, medicine, consumer goods and inputs for industry and agriculture.
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