Monetary Order on the agenda of Cuban Deputies
- Written by Ania Fernández Torres
- Published in Holguin
- Hits: 915
On Tuesday’s working session, the Holguín deputies received updated information on the monetary ordering process in Cuba, as part of their training for the 5th Ordinary Period of Sessions of the National Assembly of People's Power in its 9th Legislature.
The Head of the Commission for the implementation of the Guidelines of the Economic and Social Policy of the Party and the Revolution, Marino Murillo Jorge, explained to the plenary the complexities of the monetary and exchange rate re-ordering, the suppression of some subsidies and wages reform and pensions.
Murillo Jorge said that there are various questions and concerns that have been clarified through different channels of communication and there is a willingness to continue providing detailed explanation to the people and their representatives.
"Currently we have distortions in wages, prices, efficiency, incentives, in the management of the macroeconomy and even the institutional framework, and we must eliminate these distortions," Murillo added.
All economic actions demand adjustments, so the rules for the business system are going to change, they are going to receive benefits but they must seek efficiency as a preponderant factor, he commented.
He noted that money devaluation is traumatic in any place of the world but in Cuba this process will be carried out differently because it will be a controlled inflation so that it affects the population as little as possible.
He affirmed that wages, pensions and social assistance benefits will be raised and that all changes in economic matters always have effects on other concatenating activities.
It is important to consider the vulnerable nuclear families, the coincidence factor in each family circle where disadvantaged people can converge to argue whether they demand government aid and subsidies.
Wednesday’s working session started at 9 in the morning with an agenda that includes the budget settlement, economic and social strategy and the analysis of draft laws.