• Submitted by: Juana
• Business and Economy
• Politics and Government
• 07 / 13 / 2015

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One hundred twenty-three Cuban state companies ended 2014 with a negative balance in its management and 24 of them will become extinct this year after reporting repeated economic losses since 2012, according to a parliamentary report released today by official media.
According to the parliamentary report, for two or more years a total of 56 companies closed with losses, 73% of them belonging to the Ministry of Agriculture and 8% of the sugar sector.
In the first quarter of 2015 65 companies in the country already have losses.
The plan of economic reforms undertaken in Cuba by President Raul Castro contemplates the liquidation or transformation of state companies or cooperatives that present losses steadily.

source: www.cibercuba.com