Cuban authorities analyze updating of Government Projections

HAVANA, Cuba, Apr 29 (ACN) Manuel Marrero Cruz, member of the Political Bureau and Cuban Prime Minister, informed that it was decided to make a comprehensive review of the Government Projections to correct distortions and boost the economy during 2024, and of the Plan of Actions approved to implement them.

The update of the schedule is supported by the need to speed up a group of actions and projections that would have a more positive effect and that would allow mitigating a little the complex situation the country is going through, explained the head of Government in the most recent meeting of the Council of Ministers, which was chaired by Miguel Diaz-Canel, first Secretary of the Central Committee of the Party and president of the country.

As reported by the Presidency of Cuba on its website, Marrero Cruz pointed out that the decision was taken based on the tours of the territories, the doubts expressed from different sectors of society, the time elapsed, and other factors.

As a result of this review, he explained, the eight general objectives initially foreseen were confirmed, while at the same time the Projections were modified and expanded, and are now 92.

The macroeconomic stabilization program, banking and price issues, as well as the foreign exchange market and the generation of income in foreign currency, among others, are the ones that most need to be accelerated, because they have a more favorable impact on the population, the premier added.

Regarding the fulfillment of the schedule from March 23 to April 19, the first deputy minister of economy and planning, Mildrey Granadillo de la Torre, said that during this period, work has been done mainly on the projections with an impact on the reduction of the fiscal deficit; the mechanism for the allocation and management of foreign currency; the relations between the different actors of the economy; food production; the price policy and the strengthening of the socialist state-owned enterprise.

She highlighted that as part of the decision to continue removing subsidies to products and instead to people, the new prices of cigarettes and cigars were implemented during the period.

Likewise, the deputy minister commented, among other actions carried out, the proposals for updated legal norms for non-state economic actors were circulated to all the agencies of the Central State Administration; the process of conciliation on the criteria of the Preliminary Draft of the Enterprise Law was concluded; and constant follow-up was maintained on the implementation of the projections focused on social programs.