Monetary overhaul makes progress in Cuba despite adversities
Monetary overhaul makes progress in Cuba despite adversities
Havana, (Prensa Latina) The monetary overhaul in Cuba is making progress despite the situation caused by the tightening of the economic, commercial and financial blockade imposed by the United States, ministers said.
An assessment of the two and a half months of implementation of this transformation in Cuba s economic and social life, which has implied removing the monetary and exchange duality, establishing a unique exchange rate at 24 pesos (CUP) per US dollar, implementing a general pay reform and eliminating undue gratuities and excessive subsidies, makes them evident.
Havana, Feb 18 (Prensa Latina) Cuba is currently making a constant review of its monetary overhaul, because its objective is to create better conditions to generate more economy, government officials said today.
Havana, Jan 23 (Prensa Latina) With the present monetary overhaul in place in Cuba, the business system has more power and autonomy, but it must be efficient, government authorities said.
Cuba applies monetary overhaul with social protection
Cuba applies monetary overhaul with social protection
Havana, Jan 7 (Prensa Latina) Social protection, particularly for the most vulnerable sectors, is currently a priority of the monetary overhaul in Cuba despite the removal of undue gratuitousness and excessive subsidies. Since January 1, this complex and transcendental economic transformation has been underway with a monetary and exchange rate unification and actions aimed at favoring the updating of the economic model and essential for carrying out other tasks outlined in the country s economic and social strategy.
As government authorities and party members have reiterated, everything will be done with the greatest attachment to social justice that characterizes the Cuban socialist system, with aid to the needy and for which 30 billion pesos are available.
Wage reform in Cuba, necessary in economic strategy
Wage reform in Cuba, necessary in economic strategy
Havana, Dec 31 (Prensa Latina) To fulfill the economic and social strategy and advance the development plan until 2030 in Cuba, a wage reform was necessary, process present today in the monetary system.
The main objective of this increase in workers income is to stimulate interest in work as a source of wealth generation, for which there is already an increase in job applications in the country.
As the Minister of Labor and Social Security, Marta Elena Feito, explained the day before, some 15 thousand people applied for employment in Cuba prior to the entry into force on January 1 of the ordering task.