Cuba's economic crisis continues to worsen, with Economy Minister Joaquin Alonso reporting a 1.1 per cent contraction last year, adding to a 10 per cent decline since 2019.
Alonso, speaking before the Cuban Parliament, warned there's little hope for recovery this year, citing tightening U.S. sanctions and falling foreign currency earnings.
The import-dependent nation has seen severe shortages of food, fuel, and medicine, with daily blackouts lasting up to 16 hours.
Agriculture, mining, and manufacturing have also seen major declines.
Alonso says Cuba is importing more than it exports, further increasing its debt, last officially reported at US$19.7 billion.
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