ECLAC Changes Cuba Growth Projection for 2016

After a very strong year for Cuba’s economy in 2015, the country’s GDP growth is projected to slow this year.

The United Nations Economic Commission for Latin America and the Caribbean has forecasted GDP growth of 2 percent for the island this year, following an increase of 4 percent in 2015.

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The 2016 number is closer to Cuba’s growth in 2014, when the country’s economy posted a 1.3 percent increase in Gross Domestic Product.

The number is a bit curious given that ECLAC had, late last year, forecasted growth of 4.2 percent, and given the massive increase in tourism to the island, particularly from the United States.

ECLAC did not reveal details of its change.

— Cuba Journal Staff

ECLAC Changes Cuba Growth Projection for 2016 was last modified: April 18th, 2016 by Cuba Journal