Publicado por Alma
Economic Minister, Alejandro Gil Fernández, presented the report on the 2018 Plan and budget implementation to members of the Economic Affairs Standing Committee. Photo: Jose M. Correa
GDP growth in 2018 is fundamentally related to the dynamics of sectors such as transport and communications, manufacturing industry, commerce, as well as public health, culture and sports, according to information offered to members of the Economic Affairs Standing Committee, who also learned of this year’s budget execution estimates, and the projections for 2019.
According to Minister of Economy, Alejandro Gil Fernández, this year there were decreases in the sugar industry, agriculture, construction, together with mining and quarry extraction activities. Consequently, non-fulfillment of sugar exports was reported, and planned import levels were not reached either, which undoubtedly affects activity levels.
Fernández also referred to the high level of indebtedness with which the economy operated, due to the non-payment of restructured debts, a matter that will also have an impact in 2019, since such financial strains can not be resolved in the short term.
Regarding the investment plan, he informed that it will remain around 85%, a figure influenced, for example, by the incompletion of works linked to renewable energy sources. Plans were for 4.5% of power generation to be obtained through these sources by the end of the year, but the figure has barely reached 3.5%.