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Friday, September 18, 2020
Friday, July 17, 2020

Cuban Government informs measures to boost the economy



Havana, Jul 17.- In order to face exceptional economic conditions generated by the Covid-19 pandemic and the intensification of the blockade, Cuba approved a group of important measures and is working on the conception and implementation of others. This was announced on Thursday via Mesa Redonda radio-TV program.

The president assured that these measures are aimed at strengthening and developing the country, and were also elaborated based on the considerations generated by public debates, such as the process prior to the VI and VII Congress of the Communist Party, and according to the current global situation.

Díaz- Canel denounced the increase in imperialist interference, and called for immediate response through social communication to counterattack manipulation.

In this sense, he denied the alleged closure of the stores in CUC and the dollarization of the economy, when, on the contrary, what will be done is to expand the range of products for sale.

The Head of State also stressed the importance of concentrating efforts on boosting the economy to transform the current scenario and offer better welfare to the people; through the boost of food production and the work of economic actors in the national industry.

Alejandro Gil Fernández, deputy prime minister and head of Economy commented that the Strategy designed to boost the economy covers 16 key areas, and has a comprehensive approach to activities that impact the life of the country, through the fundamental principles that govern its conception.

In this sense, he pointed out the maintenance of centralized planning, the defense of national production and the lowering of imports.

Likewise, he mentioned that there are market regulations through indirect methods, the complementarity of economic actors, the dynamic role of internal demand and greater management autonomy in the business sector.

He also explained that as principles of this strategy is to encourage competitiveness and motivation for work, with savings as a premise, as well as maintaining an active environmental policy in accordance with the measures.

Gil Fernández clarified that there will be transformations that will have national food production as the main focus, through the flexibility of marketing with agricultural producers and the implementation of actions for foreign direct investment.

He informed that work will be done on the design of micro, small and medium-sized companies, tourist packages in foreign currency will be offered to nationals, and progress will be made in a wholesale market for productive bases, backed by freely convertible currency.

In addition, it announced that, as of Monday, July 20, the measures relating to retail sales in freely convertible currency and the elimination of the 10% tax on the dollar will come into force.

Rodrigo Malmierca Díaz, Minister of Foreign Trade and Foreign Investment, reported that, in the case of imports and exports, non-state forms of management will require having accounts in one of the Banks of the Cuban system. He explained that magnetic cards cannot be used to make freely convertible currency extractions, according to the context and the strategy that the country is implementing.

In addition, he clarified that commercial relations will be established through contracts. The prices, according to the international market, will be agreed between the parties and, from Monday, July 20, services in foreign currency stores will be extended to legal entities.

Furthermore, Salvador Valdés Mesa, Vice President of the Republic, stressed the importance of working quickly to put these measures into practice, with unity as a central element, in order to achieve the benefit of the entire Cuban population. (Ricardo de la Paz Cervantes / Radio Camagüey / ACN / Granma) (Photos: Profile on Twitter of @ PresidenciaCuba)