The government decided to extinguish a group of 24 entities with negative financial balances, the majority belonging to the agricultural and livestock sector.

After three years of sustained losses, a group of Cuban state-run enterprises finally went bankrupt and the government decided to extinguish them. The measure came up during the recent Parliament sessions but aroused little repercussion inside the country despite this being a novelty, at least as a public announcement; probably because it was already previewed in the document guiding the economic changes in Cuba.

The government expects to close 2015 with a 4 per cent GDP growth, after it ended last year with a minimum one per cent. The first signs are beginning to show in the first semester with a 4.7 per cent.

After several years of continuous economic slowdown, the Cuban government revealed during the Parliament session that concluded on July 15 a more solid reaction of the economy in 2015, despite the reiterated inefficiencies in investments and the already usual delays in the import of equipment and other resources.

A Spanish government and business delegation visited Havana to explore business opportunities in strategic sectors which investors from that country have paid less attention to until now.

Spain is continuing to manoeuvre intensely to establish itself in the Cuban economy before the U.S. competition enters the scene; or to wait in a better position for the opportunities the Spanish businesspeople are already beginning to see. Representatives of both governments met in Havana this week, at the same time as a business forum studied new options to finance and strengthen investments and bilateral trade.

In light of the new transformations in the political panorama of Cuba-U.S. relations, new possibilities are coming up of clinical essays and the export of Cuban cancer vaccines to the northern nation. The island’s great development in this sector makes it possible for U.S. scientists and from all over the world to become interested in those products.

Cuba, from 1959 onwards, has created a series of conditions in the productive, scientific-technical, educational and health spheres, to place itself in an advantageous position in relation to other countries of Latin America in terms of biotechnology.