Abusive prices still an unresolved matter

 HAVANA, Cuba, Feb 25 (ACN) During the 2024 review meeting of the Ministry of Finance and Prices (MFP), attended by Cuban President Miguel Díaz-Canel, Cuban Prime Minister Manuel Marrero Cruz said the population will remain dissatisfied until something is done about the abusive, speculative and absurd prices in the country and stressed the urgency of making price reduction a top priority.

He stated that the significant reduction of the fiscal deficit in 2024 thanks to the actions undertaken by the MFP together with other agencies facilitates progress in this regard and recognized the efforts of the National Tax Authority last year to ensure that taxpayers comply with their obligations, even though there are still many cases of illegalities, tax evasion and unreported income that must be dealt with.

As to the fulfillment of the Pricing Policy led by the MFP, Marrero Cruz assured that the issue is yet to be solved and prices are still too high for most Cubans despite the enforcement of fines, the increase of inspections and other measures to stop the diversion of resources, undue payments and other crimes as part of the ongoing efforts to reanimate the economy and correct distortions.

The official also urged the MFP to review the contribution of the Cuban insurance, tariffs and other systems to prevent budget losses to the detriment of the country and remarked that, despite the reduction of the fiscal deficit, the Cubans still fail to perceive the social connotation of such a positive result because the prices are still outrageously high.