Presidents Castro and Maduro Cuban economy
Miami Herald: Economists debate how hard Venezuelan economic storm will hit Cuba
Another country stole attention at the opening session of the Association for the Study of the Cuban Economy conference in Miami as the impact on Cuba of the potential end of Venezuelan oil largesse became a prime topic for debate.
Faced with mounting energy problems, Cuban officials announced strict energy savings measures at state enterprises earlier this month in hopes of avoiding blackouts during the sweltering summer months. Officials have said Cuba will have to cut fuel consumption by 28 percent during the second half of the year.
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Update: VENEZUELA’S ECONOMIC WOES SEND A CHILL OVER CLOSEST ALLY CUBA: Warnings of rationing revive memories of post-Soviet austerity in Havana (Cuban Economy/Financial Times)
WNU Editor: The big fear in Cuba is a return to the power-blackouts of the 1990s .... which will happen if the spigot is turned-off from Venezuela. My prediction .... it will be turned-off by the end of this year. Venezuela's oil industry is now in chaos, and the infrastructure that supports it is .... like anything else that is not properly maintained and serviced ..... falling apart. On the bright side .... this will expedite the push for economic reforms in Cuba .... much to the chagrin of the hard-core socialists who still believe in the Cuban-Castro revolution.