Castro : We need another belt tighteening

taken from http://edition.cnn.com

Looks like this time around, there is no country in the world which sterile from the global economy crisis. This is one of remarkable proof that we are indeed already come to one world one economy period since we are all connected in such a way. Even for countries that has Communist ideology

I read from this site that Fidel Castro, the charismatic Cuban Leader said that the country face another budget cuts on government spending as Cuba struggles with the global economic downturn. He said it during the celebration of 56th Cuban revolution on Sunday 26 Jul 09 in front of the 200,000 people who filled into the parade grounds of Holguin, about 500 miles southeast of Havana.

Castro later said that on Tuesday he will conduct a meeting with the Council of Ministries who dedicated to the analysis of the second cost adjustment in this year’s plan, due to the effects of the “>global economic crisis, especially on the reduction of revenues from exports and the additional restrictions on accessing external financing. He also added that he would also meet with the central committee of the Communist Party this week to discuss the situation.

Like every country in the world, Cuba currently suffers from the global economy crisis. Their revenues from key exports item like nickel are down, while the import price such as food is going up.