Cuban Assembly evaluates results of economic measures in 2022 | News
The National Assembly of People’s Power of Cuba is meeting this Saturday in Havana to discuss a profuse parliamentary agenda which included, as a first point, the analysis of the evolution of the economy in the first four months of the year 2022, in amidst the global economic crisis.
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In the extraordinary session of the Cuban parliament, the Minister of Economy, Alejandro Gil, reported on what he called “a process of gradual recovery of the national economy” based on an increase in the volumes and values of imports and exports in the national economy. .
According to the information presented by the also deputy prime minister, Cuba’s total foreign currency income for the first quarter of 2022 exceeds 493 million dollars, a figure similar to that reached in the same period of the previous year, although he qualified “much lower to the one we had before March 2020.”
In that sense, he confirmed that “we are beginning to see a certain and gradual recovery as we have proposed it,” referring to the Economy Plan approved by the Cuban parliament in December 2021, which took into account the effects of the economic crisis. post-pandemic, although not that a war like the current one in Eastern Europe breaks out.
The minister appreciated that in the current circumstances, “we are making progress. We are not stagnant or going backwards.”
He reiterated that in these first months a gradual recovery of the economy can be seen. “We are recovering part of the lost ground with a drop of more than 13 points in GDP. We’re going in that direction.”
“Our path is to defend what we have, it is hard work, creating the increase in national production, the increase in economic actors. Little by little we are recovering. The economic and social strategy is focused on that effort.” he concludes @AlejandroGilF pic.twitter.com/RoSS7utJ2k
— Ministry of Economy and Planning of Cuba (@MEP_CUBA)
May 14, 2022
He also assured that one of the aspects that most negatively influences economic recovery is the availability of fuel and currency: “We have many limitations. We have more income than last year, but below the plan and before 2020, ”he pointed out.
The head of Economy confirmed that in March, inflation was at 1.86 percent compared to March of last year: “Although goods and services are expensive, stability is appreciated” while acknowledging the loss of purchasing power of wages.
Nor can we have a stable supply of foreign currency in the 1×24 foreign exchange market. We have to manage the availability of foreign currency in the country in a very selective and gradual manner.
�� @AlejandroGilF in @AsambleaCuba pic.twitter.com/igUgaNhGXm— Ministry of Economy and Planning of Cuba (@MEP_CUBA)
May 14, 2022
The Cuban National Assembly will discuss and eventually approve eight bills ranging from the Environment to the new Penal Code.
