HAVANA (Reuters) - Cuba’s economy is expected to grow just over 2 percent this year, down from a previous forecast of 6 percent, a state-run newspaper said on Saturday.
Juventud Rebelde quoted Economy and Planning Minister Marino Murillo as saying the global financial crisis had hurt Cuban exports and reduced tourist visits to the communist-led island.
The prediction now, Murillo said, was that gross national product would be “above two percent and not six as was thought initially.”
The government had earlier warned its 6 percent forecast was tenuous due to instability in the global economy.
A Cuban university think-tank told Reuters on Monday the economy would grow 1 percent this year and could shrink.
Cuba -- which relies heavily on tourism and exports of sugar, nickel, cigars and seafood -- is struggling with a shortage of foreign reserves as a result of the global crisis, three damaging hurricanes and structural problems in its economy.
On Thursday, the head of Cimex, one of Cuba’s biggest corporations, said it had delayed payments for some products because of the national cash crunch.
Cuban media have been filled lately with warnings that people must reduce energy use.
The Communist Party newspaper, Granma, said on Saturday that “exceptional measures,” including possible planned blackouts, would begin on June 1 to cut energy use and save money.
Reporting by Rosa Tania Valdes; Editing by Jeff Franks and John O’Callaghan
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