• Submitted by: Juana
• Business and Economy
• 08 / 03 / 2015

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A study of the company Euler Hermes, credit insurance specialists, estimates that the Cuban economy could grow by 5 to 6% per year between 2016 and 2020, against an average of 2% over the last five years, reports Le Monde.
"Parallel to the diplomatic approach, the Cuban government issues very favorable signals to the markets," says economist Daniela Ordoñez, author of the study.
According to her, faster growth would be mainly thanks to the boom of foreign investments, it could be 15 to 20% in coming years. "The Island has the need to modernize its infrastructure and production capacity," she explains. "The State will open the economy to make this possible."
"We estimate that the United States will gradually lifting restrictions," added Ordoñez, and who will first take advantage of this will be tourist sector.
According to the report of Euler Hermes, the United States will be the first to benefit from the lifting of sanctions and the Cuban opening. Its exports to the island will also grow about 1 billion dollars (910 million euros) per year. And its market share in the country could move from 3 to 25% by 2020.

source: www.cibercuba.com