Many residents in Havana, the capital of Cuba, have shared that there has been an increase in the price of several commodities since the government s announcement.
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Cubans are preparing for a new wave of inflation after the government last week rolled out details of an austerity plan that economists say will touch nearly every facet of the communist-run. -January 23, 2024 at 12:52 pm EST
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Cubans are preparing for a new wave of inflation after the government last week rolled out details of an austerity plan that economists say will touch nearly every facet of the communist-run island's already flailing economy. The measures - which include price and tax increases and cuts in subsidies - will slow a soaring budget deficit forecast to exceed 18% of gross domestic product and set the stage for growth, according to Prime Minister Manuel Marrero. "In economics, such prices are not increased in one area without affecting others," Cuban economist Omar Everleny said in an interview in Havana.