Havana city, Cuba.- The President of Cuba, Miguel Diaz-Canel, stated today that putting the monetary system in order, beginning on January 1st, is far from being a policy of shock therapy or a financial playpen (bank freeze), as the foes of the Cuban Revolution say.
Closing the 6th session of Parliament, Diaz-Canel insisted that ‘whatever needs reviewing, will be reviewed, and whatever needs correction, will be corrected’, since the Revolution will never leave anyone helpless.
The Head of State admitted that this is a very complex process, but that it is essential to undertake it as it will be doing away with hurdles that the national economy currently has.
In this regard, he commented that concerns of the people are being addressed, and that those in charge will explain as many times as necessary, to respond to concerns such as those generated about wages and electricity rates.
The President further said that Cuba has gone beyond its capability in 2020, when facing the Covid-19 under exceptional conditions, generated by the international crisis and the impact of the intensification of the US blockade.
He pointed out that although a 1% growth had been foreseen for the closing of the year, the country’s Gross Domestic Product (GDP) will indeed decrease by about 11%.
The economy will fall, but it will not stop, stressed the President, who referred to the approval of a development strategy that will allow for the advancement of economic and social tasks and goals until 2030.
Next year (2021), he said, will be decisive for the economy, and better conditions have been designed for the productive sector, and although uncertainty prevails in the international arena, a gradual recovery period is expected, and a GDP growth between 6% and 7% is predicted.
This will require an effort by all economic players, and avoid resurgence of the Covid-19, to prevent the country’s economic and social life from coming to a standstill.
He also called for keeping inflation under control, generating new jobs, betting on local development, the reactivation of national industry and its participation in the retail market, among other elements such as reducing the fiscal deficit and better management of public spending.
We will not give up on the goals of the national plan until 2030, he emphasized, and called for decisively pushing the economic strategy ahead.