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Friday, April 23, 2021
Wednesday, March 3, 2021

New socioeconomic strategy shows efficiency

Havana, Mar 3 - The monetary order is a necessary measure in the current economic context of Cuba, and in just 60 days it has shown its validity, despite the complexity of its implementation.

The island completed its second month in this momentous process: a single currency, the Cuban peso, and a single exchange rate, 24 pesos to one dollar, increased salaries and pensions, elimination of excessive subsidies and undue gratuities, and correspondingly increase in the prices of all products and services, except those aimed at vulnerable population groups, including children.

Since January 1 of this year, when all these measures and others that complement this complex change came into force, the economic scenario is more dynamic and complicated for Cubans in an unstoppable and irreversible gait.

Several actions are already underway, the decentralization of wholesale and retail prices, only a group of them were under the
responsibility of the Cuban State, to give more powers to the provincial and municipal governments, and modifications in the costs of
storing products agricultural.

Other adjustments decreed by the Central Temporal Group, which follows the progress of the monetary regulation, were aimed at revising the prices of uncontrolled or complementary medicines, so that a total of 37 of them returned to the retail values ​​prior to the monetary regulation.

Likewise, the improvement and expansion of self-employment (private sector) was approved, and restrictions were eliminated for the benefit of the more than 600 thousand workers who exercise it, 13 percent of the people employed in the country.

The adopted decision excluded the previous list of 127 activities for its exercise and more than two thousand permitted occupations were decreed, with only 124 prohibited or partially limited.

As explained by the Deputy Prime Minister and Minister of Economy and Planning, Alejandro Gil, the greatest challenge that Cuba has with the monetary system is the increase in efficiency, to, from there, make the necessary adjustments, always on the basis of economic fundamentals and the criteria and opinions of the population.

That is why the most recent adjustments and measures adopted validate these principles with the aim of rectifying the course set by this complex and cross-cutting process in order to put the country in a position to generate greater wealth, boost the economy and make it more efficient.

All this confirms the complexity of the monetary order that involves all the economic and social sectors of the nation, and although for years it focused the interest of authorities and decision-making bodies, its implementation requires the greatest attention and occupation to adjust many elements in favor of the advance of the economy.

These are necessary transformations so that there is more efficiency in the state enterprise and the non-state forms of management (private and cooperative sector) in order to make them a real economic complement. 

Much remains to be done and achieved, because the ordinance is part of the updating of the Cuban economic and social model and the way to eliminate all obstacles to the productive sector, for which 43 measures were issued that will facilitate its autonomy and development. 

It is also the way to promote the chain and advance of the national industry, the stimulation of exports and import substitution, generate more wealth and thereby distribute more profits for the benefit of workers. 

It is also a goal to promote facilities for foreign investment and exports, which result in a greater entry of foreign currency to the country, as well as stimulate local development initiatives and projects in order to create new sources of employment and contributions to society. 

It is only 60 days and a reform so transcendental for Cuba has much to demonstrate and unleash the productive forces and encourage direct labor activity to production, and within it, boost productivity, and achieve the economic efficiency demanded by the country. (Text and photo: PL)