In a recent statement, Cuba's Minister of Economy Joaquín Alonso Vázquez asserted that the country's economy is "revitalizing," despite acknowledging that he "senses" there will be no economic growth in 2024.
According to a report fromCaribbean ChannelIn which they gather statements from the minister, the macroeconomic parameters "improve," although the figures tell a different story; for instance, year-on-year inflation reached 28% in October.
The prominent economist Pedro Monreal described these statements as a "delusional diagnosis" and criticized the disconnect between the official narrative and the economic reality.
"Far from 'breathing easy', the Cuban economy remains stifled by persistent stagflation, a structural crisis that impedes development, and a markedly incompetent economic policy," he stated on his account on the social media platform X.
Monreal highlighted that the minister's optimism seems to be based on weak foundations, overlooking the structural issues that hinder the country's growth.
Furthermore, he noted that the supposed improvement in macroeconomic parameters is largely due to a "brutal compression of workers' wages," which has further deteriorated the living standards of Cuban households. The economy is not improving; Cubans are surviving on less, would be the conclusion of this matter.
The combination of inflation, economic stagnation, and declining wages keeps the population in an increasingly precarious situation.
Criticism of the government is rising due to the lack of effective policies and the manipulation of statistics, while many analysts agree that without deep structural reforms, the crisis will continue to worsen.
In a context of crisis and internal tensions, these statements raise concerns about the economic direction of Cuba.
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