ABSTRACT
Fidel Castro’s Central Report to the Third Party Congress provided partial information on the economic balances and a harsh critical assessment of several economic sectors not functioning as expected. Cuba must receive $600 million in oil from the Soviet Union if an acceptable level of domestic economic activity is to be sustained. The most recent oil price decline will affect Cuba’s economic development plans very significantly. The Third Party Congress’s main report to the Central Committee of Cuba’s Communist Party revealed the economic plan for the next quinquennium. However, Castro presented the plan for industries in percentage terms, which proved somewhat misleading. Cuba and Hungary signed an economic agreement covering the next five-year period. The agreement covered the traditional areas of cooperation and new areas such as construction, tourism, and computerization. The Journal of Commerce reported that US intelligence sources have stated that Nicaragua will receive $260 million in economic assistance for this project from the Soviet Union.
