From our Bureau of Great Socialist Economic Achievements
The immediate future looks extremely grim for Cubans. It seems that Castrogonia will be dealing with runaway inflation this year. So, the great parasite that sucked all of the life out of its colony of Venenozuela is now about to experience one of the great horrors it inflicted on that colony.
And that’s just one of the many major disasters it is facing: A runaway plague, shortages, increased repression, the continued drought in Yo-Yo gifts, remittances, and visits, and the collapse of its apartheid tourist industry.
Vamos Bien! Requetebien!
Loosely translated from Diario de Cuba
Cuba could register in 2021 an inflation of 399.6% or 505.6%, calculated experts from the Intelligence Unit (EIU, for its acronym in English) of the group The Economist.
According to Cuban economist Pedro Monreal, the institution published its report on the first quarter of the Cuban economy, in which it forecasts a weak recovery in 2021, with growth of 2.7%.
This GDP growth forecast is considerably lower than the one estimated by the Cuban government, which ranges from 6% to 7%.
Inflation of 399.6% or 505.6% depends on the method of measurement, Monreal said. In any case, it would be a high inflation that would be reduced later, although in 2022 it would still have a very high level, of 32.3%.
On the other hand, Monreal indicated, the growth estimate between 2020 and 2025 “seems to assume that an increase in the current account deficit would be sustainable, that is, to import more and more than what is exported.”
“The deficit would increase from 0.9% in 2020 to 6.2% in 2025.” This “is a troublesome assumption,” he said.
The report on the first quarter of the Cuban economy published by The Economist Intelligence Unit (EIU) also projects “a reduction in international foreign exchange reserves, assuming that the cost of servicing the rescheduled debt would increase,” Monreal said.