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January Sunday

Cuba will protect business sector, but calls for efficiency

HAVANA, Cuba, Jan 12 (ACN) The State budget allocated some 18 billion pesos to support the business system, but not to cover its inefficiencies, nor that these be incorporated into retail prices, declared on Monday Marino Murillo, member of the Political Bureau of the Party.

He said that, due to the monetary re-ordering of the country, which came into force on January 1, a devaluation of 1 by 24 is a devaluation of 2,300 percent, which requires greater efficiency of the entities, an aspect that will not be achieved in the first three months of the process, that is why the support from the State is necessary.

He stated that the Cuban business system has structural problems, technological backwardness and lack of raw materials, that is why some entities will not be able to stand the devaluation, he said.

He said that 300 thousand workers will be affected by this process, but they will not be unemployed.

He emphasized that since the beginning of the re-ordering the concept has always been that no one will be left defenseless during the transformation of the economic model.

He pointed out the importance of the country recovering from the COVID-19 and tourism in order to fully evaluate the process initiated.

However, he declared that this was the moment for its implementation, because the more the economy is tensed, the more dangerous it is to have an overvalued currency against the dollar.

He expressed that there are risks associated with the deficit of offers, the increase of income, the costs of non-State forms, and a budget deficit around 86 billion pesos.

Regarding the attention to vulnerable and lower income people, he said that there are 700 million in the budget to attend to them.

He continued by working to incorporate citizens of economically active age and with the physical conditions to work into employment, the best way to eliminate vulnerability.

Murillo described the process as cross-sectional and complex and said that only 11 days after it began, all the doubts and concerns of the population have been evaluated, such as those regarding electricity rates.

He recognized that its implementation has not been free of deviations and problems, which are far from the approved policy.

Most people's opinions are about prices and income, one of the aspects of the re-ordering task, and they forget about other fundamental elements such as the elimination of a currency and the establishment of a single exchange rate ( 1 USD x 24 CUP).

In relation to the salary reform, he commented that it is difficult for the family to do the math, since there are still people who have not had their income for the month to compare with their expenses, in addition the salary advance was given in December of last year, a complex month, where many expenses and festivities, he pointed out.

The great public policy approved is the one that the population knows about, but there are also specific cases that do not appear there and must be addressed, he said.

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