Core Viewpoint - The Cuban government, led by President Díaz-Canel, is advocating for a shift in development strategy to enhance domestic production, boost exports, and reduce reliance on imports to achieve economic growth [1] Group 1: Economic Strategy - President Díaz-Canel emphasized the need for a change in mindset and action to gradually overcome the current economic difficulties faced by Cuba [1] - The Minister of Economy, Joaquín Alonso, announced that by the second half of 2025, the government will focus on implementing a macroeconomic stabilization plan [1] Group 2: Key Initiatives - The government plans to expand sources of foreign exchange income and strengthen domestic food production [1] - There will be a more effective utilization of industrial capacity and a continuous push for the recovery of the national electricity system [1] - The government aims to increase the proportion of renewable energy in the energy structure [1]

Economic Overview - Cuba's GDP is projected to decline by 1.1% year-on-year in 2024, indicating a continued contraction in the economy despite a smaller decrease compared to the previous year [1] - The country faces significant inflationary pressures, a chaotic foreign exchange market, and severe shortages of resources such as foreign currency, fuel, and electricity, which are hampering industrial production and public services [1] Export Performance - In the first half of 2025, national export earnings are expected to decrease by 7% year-on-year, with some recovery in tobacco and seafood exports not compensating for declines in minerals, honey, and biopharmaceuticals [1] - The overall export plan for the first half of the year was only 62% completed, falling short of the previous year's performance [1] Government Response - The Cuban government has developed a special plan aimed at restoring electricity production capacity and ensuring the supply of raw materials while maximizing existing production capacity [2] - A macroeconomic stabilization plan will be prioritized in the second half of 2025, focusing on increasing foreign exchange income, enhancing domestic food production, and improving industrial capacity utilization [2] - The Cuban President has called for a shift in development strategy to stabilize the economy by boosting domestic production, promoting exports, and reducing reliance on imports [2]