One year on, Cuban president battles economic troubles

HAVANA－One year ago, millions around the world watched as former Cuban president Raul Castro raised the hand of new leader Miguel Diaz-Canel, a moment that sealed the historic generational transition in the island nation.

Twelve months after his election by the country's National Assembly, Diaz-Canel has set a new style of government amid a complex economic situation due to tougher US sanctions, financial restrictions and the ongoing crisis in Venezuela, the Caribbean nation's ally.

It has been usual to see him inspect state institutions, and appear at regular government meetings on key sectors of Cuba's economy.

Many compare his style to late leader, Fidel Castro, who worked endless hours and had constant interaction with the people.

"He's a very active president who travels all over the country, goes to remote areas with his ministers and talks about what's really happening in Cuba whether on national television or with the people. What he's doing now wasn't done before," said Sergio Rodriguez, a Havana state worker.

Increasing economic efficiency has been his priority in a tense scenario where oil shipments from Venezuela have substantially decreased and exports haven't reached their projected volumes.

"Diaz-Canel's main challenge is to straighten out the economy for Cubans to have better salaries and reduce financial problems," said Yariel Lugo, a Cuban private worker.

However, the nation's cash crunch has led to an annual debt of $1.5 billion, according to official figures, which will likely affect Cuba's economic performance this year and the projected gross domestic product growth of 1.5 percent.

At last week's National Assembly session, Economy Minister Alejandro Gil said the country is still heavily dependent on imports of food and oil which are expected to reach about $5 billion in 2019.

"This harsh moment demands we set clearly defined priorities in order not to return to the worst moments of the special period," said Diaz-Canel.

Cubans hopes that the new and younger leader can set the economy straight and move forward despite troubles.

Diaz-Canel faces several challenges ahead in economic matters such as the urgent need for a salary reform and an end to the double currency system.

In the coming years, said Diaz-Canel at the parliament session, his administration will focus on improving the economy and national defense due to Washington's constant threats against the Cuban revolution.

Xinhua