LatinNews Daily - 15 November 2024

*Cuba’s economy & planning minister, Joaquín Alonso Vázquez, and foreign trade & investment minister, Óscar Pérez Oliva-Fraga, have presented initial estimates for the damage associated with the recent passage of Hurricanes Oscar and Rafael, and recent earthquakes. According to Alonso, over 34,000 houses were damaged while, as regards damage to the national electricity system (SEN), around 2,449 transformers were affected, along with an as-yet undetermined number of posts, 200km of distribution lines, and eight high voltage towers. As regards agriculture, the government is warning that 37,000 hectares (ha) of land used for agricultural production has been lost, with preliminary losses around CUP383m (US$15.94m). The two officials reported damage to 22 hospitals, 605 communication posts, and 276 education facilities, among other things. Alonso said that the exact impact of the hurricanes and earthquakes on the country’s GDP had yet to be determined but there would “be no economic growth this year”. Cuba’s GDP contracted 1.9% in 2023.