In the first two years of the Raul Castro's elective period (2008-2009), the economic policy confronted the downturn of the GDP growth. The economic boom that began in 2004 was stopped by several negative shocks– among them, the global crisis - that made visible the structural weaknesses of the growth and brought out previous mistakes of the economic policy. In 2008 the economy experienced significant external and internal imbalances. In 2009 the economic policy carried out an adjustment that allowed restoring to a great extent the balances, but it could not avoid the banking crisis. The economic policy, under Raul Castro's commandment, has been effective from the expenditure side, which is an important step to recapture credibility and financial stability. Nevertheless, there are few measures to encourage incomes and it is questionable to keep a policy of fixed exchange rate. Without a lender of last resort, viable alternatives are not visible for a solution in the short term of the current financial crisis. Therefore, a high probability remains for the Cuban economy to submerge in a stagnation or recession period, inevitable at this point for the economic policy.