Cuba will not face the collapse of economy

Saturday, 9 July, 2016 - 09:30

Chairman of the State Council and the Council of Ministers of Cuba Raul Castro assured that the Cuban economy is not threatened with a major crisis despite some unpleasant rumors.

"There are speculations and predictions about the inevitable collapse of our economy with the repetition of the acute phase of the special period that we experienced in the early 1990s of the last century, and which is able to overcome due to the resistance of the Cuban people and our boundless faith in Fidel (Castro) and the party" , - said today the head of state at the close of the 7th session of the Cuban Parliament.

Cuba will preserve the social gains of the revolution and the improvement of their quality.  The reasons for the low rate of growth of the Cuban economy, according to the President took the  is a"reduction of fuel supplies by Venezuela, despite the strong commitment of President Nicolas Maduro and his government to fulfill commitments on volumes negotiated earlier." On the other hand, Raul Castro recalled that due to the US blockade of the country it still cannot use the US dollar in international transactions, although US President Barack Obama three months ago and announced the removal of the ban.