Cuba goes for the gradual opening of its economy

HAVANA, Cuba, Oct 3 (ACN) As Cuba enters the last quarter of the year, the circumstances are still difficult due to the intensification of the U.S. blockade, the international economic crisis aggravated by COVID-19, and the country’s epidemiological situation.

However, Cuba goes for the gradual opening of its economy, which should have positive fallout on production, according to the report that Minister of Economy and Planning Alejandro Gil Fernández presented in late August at a meeting of the Council of Ministers chaired by Cuban President Miguel Díaz-Canel Bermúdez.

Gil Fernández defined employment growth as a favorable sign and called it “one of the issues that make Cuba different from the rest of the world. In many countries the tendency has been to unemployment and a reduction of the labor force".

As we fight the epidemic, he said, we have been creating jobs, and there will be more as the economic actors improve and services and other activities reopen.

In reference to the food situation, he mentioned a drop in rice, corn, beans, milk, egg and meat production, unlike the case of garden and root vegetables.

He also referred to the behavior of the country's energy carriers. In August, he pointed out, energy production fell quite short of the expected amount, which imposed additional costs to prevent power outages.

In assessing the behavior of the economy and the challenges that the country has ahead, Gil Fernández stressed the need for greater initiative and creativity, as well as "to take more advantage of the measures that the Government has been approving in the last few months to make the socialist state-owned enterprise more autonomous. A great effort is required in all fields to make the economy grow as much as possible before the end of the year".

The minister also commented on the reopening of tourism on November 15, calling it a step in line with the current trend worldwide that is bound to boost the economy.
USEFUL AND DIVERSE AGENDA

Among the socioeconomic issues on the table of the highest Government body was the new Portfolio of Opportunities for foreign investment in Cuba, made up of 678 projects, 175 more than in the previous one.

In this regard, Minister of Foreign Trade and Foreign Investment Rodrigo Malmierca Díaz explained that the Portfolio was based on the fact that foreign investment is becoming more important and necessary in the current economic situation.

“At this moment,” he said, “we have 429 projects ready for negotiation, and 56 in the Mariel Special Development Zone, in line with the National Economic and Social Development Plan 2030, which addresses topics such as the transformation of production, our presence in international markets, natural resources and the environment, and infrastructure, as well as Cuba’s human resources and potential in science, technology and innovation.”

In turn, Minister of Transportation Eduardo Rodríguez Dávila presented a report on the results of the so-called Operation Port-Transport-Domestic Economy in the first half of the year, still marked by shortcomings that will be the focus of attention in the next few months and solved as funding and resources become available.

About this, the Prime Minister said that now it is more necessary than ever to streamline this operation to make it work and contribute to rather than hinder the distribution of goods.

Among other issues, the Council of Ministers was also updated about the approval of the first Micro, Small and Medium Enterprises (MSMEs), as well as Non-Agricultural Cooperatives following the enactment of new related regulations in September.
POPULAR ENGAGEMENT IS PARAMOUNT

“We have to design, together, a system of popular control to counteract any deviation in the enforcement of socialist law and in the fight against corruption,” said the President, whose reflections stemmed from the report presented by the Comptroller General of the Republic, Gladys Bejerano Portela, about the new policies and the action plan of the National Auditing System in the first semester of the year.

The Head of State also highlighted the Revolution’s long-standing political will to deal with economic control and everything that has an impact on efficiency, good performance and transparency, in keeping with the ideas promoted by Commander in Chief Fidel Castro and Army General Raúl Castro.

After a comprehensive look at our system of government and the leading role of popular participation in every area of national life, President Díaz-Canel underscored that power in Cuba is in the hands of and exercised by its people to tackle our social problems and overcome in the fight against corruption.

Hence his emphasis on the significance of people’s engagement in this battle: "I believe that by facing this together with the people we are going to make more progress."