Cuba reviews 2009 projections

The Cuban government is projecting a drop in export revenue as a result of the financial crisis.



It has also cut estimates of imports by billions of US dollars this year.



Reports say imports will decline by 3.4 billion compared with an earlier 1 billion projected increase.



Meanwhile, exports are expected to fall by 500 million, compared with an estimated $600 million increase earlier this year.



The Raul Castro government has also implemented energy saving measures and cut social spending in an attempt to cope with the shrinking economy.



Local analysts say Cuba has not faced such a dire situation since the early 1990s when the fall of the Soviet Union forced a 75 per cent cut in spending.