Cuba to revive its economy with control of Covid-19

Photo: Taken from RHC

Cuban President Miguel Díaz-Canel called for efforts to revive the economy and recover the levels of activity in the country, without neglecting control over Covid-19, the Presidency website informed.

On Tuesday, presiding over a meeting of the Council of Ministers, the President urged to do so inspired by the example of resistance of the Cuban people against the aggressions promoted from abroad amid the complex economic and health situation caused by the pandemic.

The meeting approved the draft Economic Plan and the State Budget for 2022, which will be submitted for approval at the next session of the National Assembly of People’s Power (unicameral parliament), scheduled to begin on December 21.

After two years of contraction of the Cuban economy, from the second half of 2021, the country began a gradual process of recovery of activity levels, which should be kept during 2022, said Deputy Prime Minister and Minister of Economy and Planning Alejandro Gil.

The goal for 2022 is to advance towards a process of macroeconomic stabilization and the recovery of the role of the Cuban peso as the center of the financial system to halt inflation and stabilize the national electro-energy system.

Also, to give priority attention to individuals, households, and communities in vulnerable situations, transform the state business system, and decentralize competencies in terms of greater autonomy in the municipalities to promote territorial development.

Concerning the State Budget, it takes into account a scenario in which the intensification of the economic, commercial, and financial blockade by the United States will persist, as well as the effects of the crisis caused by the Covid-19, and the gradual recovery of the economy, assured Meisi Bolaños, head of Finance and Prices.

Faced with this reality, Díaz-Canel called to «work differently, with a certain flexibility, which has to start with the thinking and with more rigor in the demand and control.»

lgl/RHC