|Cuban Economic Update on the Spotlight of Annual Expert Forum
2012.06.21 - 11:44:27 / email@example.com
HAVANA, Cuba.- Major issues relevant to the ongoing update of Cuban economy were addressed by local experts during an annual forum of the Center for Studies on Cuban Economy (CEEC), underway in Havana until Friday.
The country’s new credit policy, foreign direct investment and the significance of economic growth were key issues addressed on Wednesday by the economists, who picked the symbolic Ambos Mundos Hotel, in the Old Section of Havana, for their forum.
The credit lines now being offered by Cuban banks to actors in the non-state sector allows to allocate financial resources to growing private businesses and prevents the proliferation of informal finances, said economist Pavel Vidal, who added that this credit policy also favors the development of links between the state and the private sectors.
CEEC director Omar Everleny explained that foreign direct investment must meet certain needs, such as access to new technologies, the opening of new employment sources and the replacement of costly imports with local productions.
Some countries, which are now developing their infrastructure, have benefitted from investment rates of not less than 30 percent of their gross domestic products, with significant support by foreign direct investment, the expert noted.
As to the country’s economic growth, CEEC specialist Juana Triana said that in order to recover production capacity, it is crucial to get the most out of local resources and improve the living conditions of the population.
The forum’s agenda for Thursday includes issues related to the agricultural sector, the productivity of state companies and the contribution by cooperatives to the update of Cuban economy.