1945

Although the island remained in the grip of a serious crisis, clearer signs of a recovery in the Cuban economy were visible in 1996. Improved access to imported inputs and reorganization of the public sector resulted in greater capacity utilization and a smaller fiscal deficit. Expansion of supply on the domestic market alleviated inflationary pressures and led to an appreciation of the peso on the parallel exchange market. However, the limitations of this economic upturn became evident when the trade deficit again doubled. Thus, in 1997, output is expected to grow at a more modest rate of 4% at most.

Related Subject(s): Economic and Social Development
Countries: Cuba
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