For next year, Cuba projects exports of goods and services exceeding $9.969 billion. An amount $1.122 billion higher than the 2025 estimate, announced Joaquín Alonso Vázquez, Minister of Economy and Planning (MEP), this Thursday.
Speaking at the Sixth Ordinary Session of the National Assembly of People’s Power in its Tenth Legislature. Alonso Vázquez presented the Economic Plan for 2026, one of whose main objectives is to increase the country’s external revenues.
He explained to the deputies that the largest contributions are concentrated in medical and tourism services. The island aims to receive 2.2 million visitors, 15.8 percent higher than projected for 2025.
The operation of self-financing schemes in foreign currency is being consolidated. Allowing for the revitalization of production and service capacities, both for export and import substitution.
According to the minister, the implementation of the new mechanism for managing, controlling, and allocating foreign currency, the approved partial dollarization. Also the transformation of the exchange market, among other measures, will contribute to increasing the generation of external income. With positive impacts on the country’s balance of payments.
He stated that increasing productive capacity in each territory, and exploring alternatives to recover higher production levels across all productive sectors. Remain essential elements for reactivating food production.
Likewise, greater contracting and delivery to the approved destination must be achieved, Alonso Vázquez added.
He noted that maintaining the National Electrical and Power System remains a priority for the country’s development. Aligned with the approved Government Program for its recovery. Regarding imports, the highest levels are concentrated in food and fuel.
Moreover he specified that by 2026, progress is expected in diversifying the country’s business sector. With an emphasis on state-owned enterprises in their various organizational forms. Achieving greater effectiveness in the coordination among all economic actors.
The investment plan anticipates a total budget of 173.662 billion pesos, with investments in priority sectors of the economy representing 67% of the total.
Each effort is focused on investments and programs for food production. The modernization of the national electrical and power system, and the completion of cement plants, among others.
Futhermore the Minister of Economy and Planning announced before Parliament that in the social sphere. Activity levels are expected to correspond with the capacity to ensure the availability of essential medicines and other products for the national health system. The priorities for macroeconomic stabilization will focus primarily on:
- reducing the fiscal deficit
- absorbing excess money in circulation
- reactivating the foreign exchange market
- transforming the mechanism for managing, controlling, and allocating foreign currency. These issues have a decisive impact on the economic recovery process. Reducing inflation, and increasing the purchasing power of wages and pensions.
He indicated that GDP growth at constant prices is projected to be around 1%, based mainly on the recovery projections for tourism and export entities, the revitalization of productive and service activities, the functioning of approved financing schemes, among other factors.
However, to achieve the modest projected growth, the implementation of the measures contained in the government programs will be crucial. With an emphasis on those aimed at increasing production levels and external income.
With information from CNA
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