Got TIPS or BREAKING NEWS? Please call 1-284-442-8000 direct/can also WhatsApp same number or Email ALL news to:newsvino@outlook.com;                               ads call 1-284-440-6666

Cuba sees growth unlikely in 2024 as hurricanes, earthquakes rattle economy

November 20th, 2024 | Tags:
People walk in a flooded street a day after Hurricane Rafael made landfall, in Batabano, Cuba, on November 7, 2024. Photo: Reuters/Norlys Perez
REUTERS

HAVANA, Cuba--Cuba is unlikely to see any growth in 2024, Economy Minister Joaquin Alonso said on Thursday, as its already sputtering state-run economy struggles to recover from a string of natural disasters this year.

Hurricanes Oscar and Rafael struck the Caribbean island in October and November, knocking out power to millions and exposing new vulnerabilities in an already decrepit and obsolete electrical grid.

An eyewitness and federal employees said she saw a man waving at her, before throwing something at the building and falling to the ground.

The storms, together with a powerful magnitude 6.8 earthquake earlier this week near the country's second largest city, Santiago, destroyed at least 34,000 homes, officials said, and knocked out infrastructure across the nation.

"The economy should not grow this year," Alonso told reporters in Havana. "Indisputably there has to be an impact."

Daily rolling blackouts, which have plagued most of the island this year, remain the norm throughout Cuba.

Authorities called for extended emergency blackouts in capital Havana on Thursday.

"The economic development of a country depends greatly on energy and we have had electrical problems throughout the year and not just this month," Alonso added.

Several weeks of managing natural disasters have sapped resources in the Communist-run country already suffering severe shortages of food, fuel, water and medicine. The multi-year crisis had spawned a record-breaking exodus of Cubans off the island.

Cuba's economy contracted 1.9% in 2023, the economy ministry said in July.

Leave a Reply



Create a comment


Create a comment

Disclaimer: Virgin Islands News Online (VINO) welcomes your thoughts, feedback, views, bloggs and opinions. However, by posting a blogg you are agreeing to post comments or bloggs that are relevant to the topic, and that are not defamatory, liable, obscene, racist, abusive, sexist, anti-Semitic, threatening, hateful or an invasion of privacy. Violators may be excluded permanently from making contributions. Please view our declaimer above this article. We thank you in advance for complying with VINO's policy.

Follow Us On

Disclaimer: All comments posted on Virgin Islands News Online (VINO) are the sole views and opinions of the commentators and or bloggers and do not in anyway represent the views and opinions of the Board of Directors, Management and Staff of Virgin Islands News Online and its parent company.