Havana, Cuba.- Cuba’s President Miguel Diaz-Canel stressed that the country’s finances are in young hands, referring to the balance of the work of the Ministry of Finance and Prices during 2019 and the projections for this year.
‘New generations of economists, accountants and financiers have had to assume vital responsibilities here, providing them revolutionary and professional growth’, the Cuban president tweeted after participating on Sunday in the annual analysis of the work of that ministry.
He shared on Twitter an article of the newspaper Juventud Rebelde that stressed the role of youngsters in the country’s Finance and Prices system.
During the analysis, the head of State indicated that it corresponds to the direction of that ministry to continue working with youngsters in an intentional way, to boost technical, political and ideological improvement.
The Cuban daily notes that only 42 percent of specialists and technicians in the central organization do not exceed 30 years of age, and 67 percent have less than five years of work experience in that portfolio.
The balance sheet report for 2019 assured that the ‘most important challenge in budget execution was the application in the second half of the year of the partial increase in salaries in the budgeted sector and Social Security pensions, which required over 4.4 billion pesos’.
It acknowledged that the measure demanded an additional effort from managers and specialists of the Finance and Prices system, including the National Office of the Tax Administration.
According to the management of the Ministry of Finance and Prices, the initiative allowed in 2019 to drive up revenues to ‘mitigate the collection deficit due to the unfavorable behavior of retail commercial circulation and business profits’.