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Cuban Economy Minister Marino Murillo is sacked

Cuban Economy Minister Marino Murillo is sacked
From the section Latin America & Caribbean

The Cuban economy minister has been removed from his post following
President Raul Castro’s warning last week that people would have to
tighten their belts amid the continuing economic crisis in Venezuela.
The government says Marino Murillo will now have responsibility for
spearheading market reforms.
Cuba’s economy is closely tied to that of its socialist ally, Venezuela.
But Venezuela has been hit by oil prices remaining comparatively low.
Cuba and Venezuela have long enjoyed warm relations
For now, Mr Murillo will broadly remain involved in managing the
communist island’s economy.
President Castro has told Cubans to brace themselves for a tough second
half of 2016 as government institutions restrict their energy
consumption while a joint Cuban-Venezuelan oil refinery in the city of
Cienfuegos is temporarily closed.
For over a decade, Venezuela has supplied an estimated 100,000 barrels
of oil a day to Cuba, largely paid for by missions of Cuban healthcare
professionals to the South American nation.
Mr Murillo will be replaced by another veteran politician, Ricardo
Cabrisas Ruiz, who has overseen the country’s recent debt restructuring.
President Castro has allowed much of Cuba’s state-controlled agriculture
sector to be made into co-operatives and legalised small and
medium-sized private businesses since assuming power from his ailing
brother, Fidel, in 2008.
With the restoration of relations with the US last year, Cuba is also
opening up to foreign investment.

Source: Cuban Economy Minister Marino Murillo is sacked – BBC News –
www.bbc.com/news/world-latin-america-36791662

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