Cuba seeks to increase exports by 3.7 pc in 2020

Cuba is looking to increase exports by 3.7 percent next year, Cuban Minister of Economy Alejandro Gil said on Friday, reports Xinhua.

Gil made the remarks during the fourth session of the ninth National Assembly of People's Power, Cuba's single-chamber parliament.

He said that the government plans to grow exports in a number of sectors including tourism, the country's economic engine, which brings in 2.5 billion U.S. dollars a year. The government's strategy for 2020 is to attract 4.5 million visitors for a growth of 4.7 percent.

The minister added that over 50 new joint venture projects are being negotiated. 

These projects would bring around 2.6 billion dollars into 50 approved businesses in the Mariel Special Development Zone.

The minister said that the island's economy is expected to grow by 1 percent, while noting that domestic problems and the U.S. economic blockade have had a negative effect on growth.

The Cuban parliament is holding on Friday and Saturday its last ordinary session of 2019, and its work agenda includes an analysis of the nation's economic plan and the state budget for next year.