CubaMinrex. Sitio del Ministerio de Relaciones Exteriores de Cuba

Cuban Council of Ministers Approved Economic Guidelines for 2012.

CUBA, July 1, 2011.- Cuba’s economic projection until 2016 and the national economic guidelines for 2012 were updated and approved during an expanded meeting of the Cuban Council of Ministers that took place last
weekend in Havana with the presence of President Raul Castro.

According to a note published on Friday by Granma newspaper, participants insisted on the need to continue reducing expenditure and increasing exports, the production of food, and products linked to this process. They also insisted on the need to prioritize investments with good rates of return on investment in medium-term periods.

In this regard, President Raul Castro emphasized that it is essential to carry out thorough studies of feasibility before investing.

He also stressed the importance of increasing food production and he recalled that although the economic Plan was approved in December 2010, it was necessary to update it due to the rise of food prices in the international market.

Also during the meeting, details were given on the work and organization of the Commission for the Implementation and Development of the Economic Guidelines approved during the Sixth Congress of the Cuban Communist Party last April. (Cubaminrex-ACN)

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