Cuba attained an economic growth rate of 2.1 percent this year, said Minister of Economic and Planning Marino Murillo.
Addressing the sixth session of the VIIth Cuban National Assembly in Havana on Dec. 16, Minister Marino Murillo, who is also Vice President of the Cuban Council of Ministers, said that the nation is badly affected by the global economic downturn and the US embargo.
During the 1998-2008 period, floods, storm and droughts caused losses worth almost 22 billion USD to Cuba , he added.
He also recognised weaknesses in Cuban economy like indiscipline in investment, the lack of capital in production and infrastructure construction and limits in payment capability.
Earlier, on Dec. 15, Minister of Finance and Prices Lina Pedraza presented the proposals to update Cuba ’s economy and its taxation system.
She said the Cuban Government expects that the non-State economic sector will generate around 1.8 million jobs in the next five years.
The country’s private sector is expected to generate 250,000 jobs in 2011 and pay around 1 billion USD in tax in the future, she added.
According to Lina Pedraza, the Cuban government is considering measures to prevent tax evasion and increase auditing activities. However, the agricultural sector would enjoy lower tax levels, she said./.
Addressing the sixth session of the VIIth Cuban National Assembly in Havana on Dec. 16, Minister Marino Murillo, who is also Vice President of the Cuban Council of Ministers, said that the nation is badly affected by the global economic downturn and the US embargo.
During the 1998-2008 period, floods, storm and droughts caused losses worth almost 22 billion USD to Cuba , he added.
He also recognised weaknesses in Cuban economy like indiscipline in investment, the lack of capital in production and infrastructure construction and limits in payment capability.
Earlier, on Dec. 15, Minister of Finance and Prices Lina Pedraza presented the proposals to update Cuba ’s economy and its taxation system.
She said the Cuban Government expects that the non-State economic sector will generate around 1.8 million jobs in the next five years.
The country’s private sector is expected to generate 250,000 jobs in 2011 and pay around 1 billion USD in tax in the future, she added.
According to Lina Pedraza, the Cuban government is considering measures to prevent tax evasion and increase auditing activities. However, the agricultural sector would enjoy lower tax levels, she said./.
