The construction of luxury hotels once again leads Cuba’s state investments in the first quarter of 2023. Business and real estate and rental services, which include this sector, mobilized 4,753 million pesos (23.3% of expenses), a little more than the previous year (4,677 million), according to data published this Tuesday by the National Office of Statistics and Information (Onei).
The total investment reached 20,413.7 million pesos, an amount well above the 14,476.6 of last year. The most spectacular leap was made, however, in an extremely heterogeneous sector, one that encompasses areas as diverse as Public Administration, Defense and Social Security. Compared to the first quarter of 2022, when 332 million pesos were allocated to it, in the same period of the current year 1,062.5 have already been spent. Despite this, it is not among those that attract the most investments, since only 5.2% of the total went to that group. The lack of breakdown makes it impossible to determine, as in other cases, whether more money was required in pensions or in the Army, to cite a few examples.
On the other hand, the Transport, storage and communications sector takes a good part of the total, being the second by importance with 20.8% of the total. In his case, the amount also skyrockets, going from 2,295.3 million pesos to 4,250.2, almost double that of a year ago. Also restaurants and hotels reflect a significant jump in money. If in 2022 274.2 million pesos were allocated to this section, which brings together the non-real estate tourism part, this year the amount is 914.8, more than triple.
On the opposite side are those who, surprisingly, fell. The sugar industry stands out widely in this list.
Although for difference, the one that was invested in the “financial intermediation” section, to which 900,000 pesos were allocated in the first quarter of 2022 and this year, also until the end of March, 71 million pesos. Education is also another of the sectors to which money arrived with much more fluidity than in the previous period, when 87 million were allocated, compared to 253.3 in this period. In similar situations are Construction, which received 500 million pesos, much more than double that of last year, with 195; and also Commerce (446 compared to 724).
On the opposite side are those who, surprisingly, fell. In that list, the sugar industry stands out widely, to which last year 152.5 million pesos were allocated – always in reference to the first quarter, which this year remains at 103.1. What was one day manna for the Island barely takes a poor 0.5% of the total investments, while its heir, mines and quarries, receives 4.3% of the total, which is almost half that of 7, 5% from last year. This industry has also received less money this 2023, 874 million pesos compared to 1,080 a year ago.
Fishing also lost, a sector that practically lives abroad, since Cubans barely enjoy their scarce production. In his case, the 93.7 million pesos of 2022 decreased to 83 this year. Science and innovation had a similar behavior, with a decrease of seven million (73 compared to 80 last year).
Agriculture did rise, a sector that the Government describes every minute as a priority, but whose interest is not supported by the data. Although the total amount went from 386.8 million pesos to 585, it only represents 2.9% of the total investment of the regime.
Havana is once again the one that receives the most money, 373 million pesos, although it is half that of a year ago
The supply of gas, electricity and water, very deficient throughout the Island, does account for a good bite of the total investments, with 10% that remains almost stable compared to the previous year. 1,990 million pesos were dedicated to this section, slightly more than the 1,475 of last year.
The manufacturing industry is the third most important for the authorities, since it receives 17.6% of the total –almost the same as in 2022– and the amount increases from 2,498 million pesos to 3,589.
Regarding investments for the local sphere, Havana is once again the one that receives the most money, 373 million pesos, although it is half that of a year ago. On the other hand, other provincial administrations make considerable leaps. A visible case is that of Pinar del Río, which rises from 53 million to 114. Also Mayabeque, which, although it only keeps 50 million pesos, in 2022 received just 12. Villa Clara also doubles, from 80 a year ago to the 174 of this, Sancti Spíritus (46.5 to 102 million) and almost Cienfuegos, when going from 60 to 104.
Among those that lost, are Las Tunas, which received 42.6 million, 9 less than a year ago, Granma (from 101 to 80) and Holguín (from 82 to 75 million), while the others remain stable.
________________________
Collaborate with our work:
The team of 14ymedio He is committed to doing serious journalism that reflects the reality of deep Cuba. Thank you for accompanying us on this long road. We invite you to continue supporting us, but this time becoming a member of our newspaper. Together we can continue transforming journalism in Cuba.
