Marino Murillo returns to lead the economic reins in Cuba
- Submitted by: Luis Manuel Mazorra
- Business and Economy
- 09 / 27 / 2014
On September 25 it was announced the return of Marino Murillo Jorge as leader of the Ministry of Economy and Planning. This charge had left in 2011 to focus on monitoring changes in the economic model that were taking place in Cuba.
The official note published with the news reported that the decision meets the need to "harmonize and integrate a higher level the process of updating the economic model and the principle of planning and conducting the national economy."
According to sources of the government Cuban economy is about to live the most significant and complex changes since the transformation began in 2011. Monetary union and granting greater autonomy to enterprises are the most complicated issues.
According to a website of the government of Cuba, the Ministry of Economy and Planning is the lead agency, implementing and monitoring the implementation of economic policy and planning efforts.
Murillo replaced in the Ministry Adel Yzquierdo, who becomes first deputy sector position he held prior to his appointment as minister in March 2011. From this year, the economic downturn worsened in the Island, to register one growth of only 0.6 percent in the first half of 2014.
The Havana government expected at the end of an expansion of the economy by 1.4 per cent, six tenths lower than expected. In early 2014, the now Minister Murillo defended the expansion of foreign investment as the best way to stimulate economic growth in Cuba.