Sunday, April 17, 2016

Castro Offers Tough Appraisal of Cuba's Slow Progress on Economic Reforms


I am puertorrican and Cuba is Puerto Rico's dear sister so I naturally leaned into writing about this article because, I will be taking a cruise to Cuba and so naturally I was sort of interested in what Raul Castro had to say and see if he was having a bipolar moment and go all Fidel Castro on all of us.

He didn't, he is just being cautious. Raul castro held a communist party congress and he warned the country of Cuba that they must remain aware of the U.S. He also opened up about implementing critical economic reforms.

He opened up his speech defending and reviewing Cuba's slow process of economic reform.Despite Cuba's adverse conditions, Cuba's economy grew 2.8% last year which was helped by the tourism sector that brought in 3.5 million visitors to the island. Cuba's economy has been particularly hurt by the economic meltdown of Venezuela, which provides oil at cut-rate prices in exchange for the services of Cuban doctors and other professionals.

Mr.Castro said the greatest obstacle to economic reform continues to be the failure to integrate Cubas dual-currency system. Cuba uses a domestic currency where a dollar buys 24 pesos, as well as a convertible peso, known as the CUC, which trades 87 U.S. cents.

I think like Puerto Rico ( which right now is doing poorly economically), Cubas economy will boost up with this cruise line and all the news surrounding Cuba which will bring in even more tourists. Since Cuba is a communist island not a lot of people want to go to  because of fears ingrained in peoples minds of communism. But if they can market into peoples brains to look past that, which they have, after Obama visiting the Island and coming their alive and happy. Cuba is such a Virgin island with not a lot of buildings and constructions ruining the land.They have virgin beaches with white sands and clear blue waters! I think that they should really promote the positive aspects of the beautiful island and I see the economy increasing in its future.

No comments:

Post a Comment