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Venezuelan real salary has fallen 89.9% by March

Tuesday, February 7, 2017

Cuba paid more than $5 billion in foreign debt last year but the economy is still dragging

But oil supply from Venezuela significantly decreased to 55,000 barrels per day in 2016, as reported by Rodríguez — from 120,000 during the best of times. Cuba has also lost around $1.3 billion in revenue from exports of medical and other services to Venezuela, according to projections made by island-based economist Omar Everleny Pérez. “Whether Cuba overcomes its economic and financial crisis or whether it deepens will depend, more than anything, on whatever happens with the Venezuela agreements,” the CSETI report concludes. More…

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