Cuba with new roadmap for economic development

The Cuban government announced during the debates of the sessions of the National Assembly of People's Power (parliament) a set of actions and measures that will mark from the week that begins today the country's economic roadmap.

Prime Minister Manuel Marrero reiterated in his speeches during the current legislature that the Cuban nation is facing a scenario of “war economy”, which worsens the socio-economic situation derived from a tightened blockade by the United States.

The global crisis caused by the pandemic, with the consequent economic impact, the worsening of global conflicts that affect the world economy and trade are part of the panorama affecting the country, he said.

However, he expressed dissatisfaction for not making the necessary progress in reducing the impact of external phenomena that, although they have an impact, there are also persistent subjective problems and insufficiencies that affect the capacity to carry out plans, programs and projections for economic recovery, issues that will be decisively faced during 2024, he assured.

In addressing the government’s projections to correct distortions and reboost the economy in 2024, Marrero first mentioned the need to restore macroeconomic balances, recover tourism, control of the exchange market and access to foreign currency.

In addition to these issues, there is the need to renegotiate debts and increase foreign investment levels, encourage domestic production, recover the sugar industry, achieve a food balance at the municipal level, and compensate imports with exports.

Other urgent elements to be solved, he said, are the reduction of the budget deficit, subsidizing people and not products, updating fuel prices, not subsidizing the waste of electricity and water, and also, a price policy that allows sustaining activities.

Although there is a program to de-dollarize the economy, the head of the Government emphasized, in order to reach this goal, it is necessary to adopt partial measures to collect or increase the levels of foreign currency, such as remittances and income from abroad.

Among the new actions, the governor specified that they include the confrontation of illegalities, corruption and indiscipline, with priority in social prevention, as well as attending to demographic dynamics, housing and rurality.