Cuba will apply new economic measures

The Government of Cuba approved an economic adjustment plan for this year, based on the reduction of public spending, in order to face the consequences of the coronavirus.

This was decided by the Council of Ministers at a meeting held on Monday in which the Deputy Prime Minister, Alejandro Gil Fernández, exposed the economic damage generated by Covid-19 and defended that “this forces an adjustment of the Economic Plan” to “reduce and eliminate expenses.”

“An economy with zero tourism cannot continue working normally and that nothing happens. We must give the arguments with transparency, so that we all unite, adjust to reality and impose on it with work,” he said.

Thus, the new Economy Plan for 2021, which includes the budget for next year, contemplates a strengthening of agricultural production, of foreign investment, especially in strategic sectors, and “the productive link between the state and non-state sectors.”

President Miguel Díaz-Canel called for “maintaining social justice and social opportunities for those with the lowest incomes and public policies that help the most vulnerable.”

Furthermore, he stressed the importance of designing the recovery phase referring to the way “we are going to open up in tourism, to flights and to economic and social activities.”

Díaz-Canel also considered that the post-Covid-19 era offers an opportunity to implement “in a faster, more determined, more organized way”, a series of “issues that are pending in the conceptualization of the economic and social model” of the Caribbean island.

K. Tovar

Source: Prensa Latina