Cuban central province seeks to boost sales in local currency

SANTA CLARA, Cuba, Mar 23 (ACN) With the aim of boosting sales in national currency to the population, Villa Clara will soon implement financial strategies that will allow the business sector to access the foreign exchange market at a rate of one dollar (USD) for 120 Cuban pesos (CUP).

The alternative aims to facilitate, in its initial phase, the import of inputs and raw materials to six entities of the territory that will become the first in the country to trial and evaluate the results of the new economic measure, intended for the generation of food, household items and means of transportation.
In exclusive statements to the Cuban News Agency, Miner Linares Rodriguez, director of Economy and Planning in the province, said that the new provision not only aims to diversify the supply in CUP, but also to counteract the increasingly alarming inflation of the informal market in Cuba.

He said that a production of more than 2,000 tons of fish and seafood-based products (sausages, croquettes, sausages, hamburgers), floor blankets, polypropylene sacks for agricultural use, electrical ventilation and cooking equipment, as well as the purchase of protein concentrate and starter feed for large-scale pig breeding are planned.

The strategy includes taking advantage of inputs of national origin, to stimulate the organic circulation of domestic capital, and importing only the raw materials that are not manufactured in Cuba, he assured.

Practice has shown that, in order to be able to sell in national currency, Cuban companies must be able to use their income in CUP, and that is something that has been very difficult until now, because there was no flexible regulatory framework like the one now proposed.

Since the last century, Villa Clara has had a solid industrial base that covers different spheres of economic-productive activity, such as sugar, household appliances, semi-heavy, chemical, food and coffee production.