Cuba

In 1998, Cuba’s economic recovery slowed down for the second year in a row. The year’s mediocre GDP growth of 1.2% was basically due to a reduced sugar-cane harvest, as the rest of the economy grew by 4%. The non-financial public-sector deficit was up slightly at 2.4% of GDP, and the liquidity overhang increased, though without affecting the purchasing power of the local currency. Inflation remained in low single digits (2.7%) —slightly less than in 1997— and the parallel exchange rate strengthened marginally, from 22.8 pesos to the dollar in 1997 to 22.3 in 1998.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Peace, Justice and Strong Institutions