Concerns Over Cuban Price Rises and Tax Hikes
Assurances Amidst Rising Prices
Cuban President Miguel Diaz-Canel and top officials attempted to ease concerns about the upcoming five-fold increase in gasoline prices. They emphasized the necessity of price rises and tax hikes, acknowledging the need for more extensive explanations to the public.
Controversial Measures
The Cuban government announced measures in late December, including fuel and public transport price hikes, to address a significant deficit. However, critics have criticized the increases, labeling them as inflationary, ill-timed, and lacking incentives for domestic production.
National Debate Preparation
President Diaz-Canel highlighted the need for political leaders to prepare for a national debate as the new measures take effect. He stressed the importance of explaining the rationale behind the changes to workers’ groups and the party core.
Mounting Economic Hardship
With years of shortages, high prices, and long lines for basic necessities, Cubans are bracing for more hardships as the February price hikes approach. The weakening peso and increased inflation are further diminishing the population’s buying power.
Efforts to Stabilize the Economy
Economy Minister Alejandro Gil assured that the government is diligently working to regain control of the peso and eliminate illegal black market exchanges. This initiative aims to stimulate production and promote economic stability.
We are working diligently to address the impact of the economic challenges faced by our citizens and are committed to finding sustainable solutions for the future.
