President Díaz-Canel urges to seek effective solutions in the economy

Cuban president sacks economy minister as controversy grows over price hikes

HAVANA, Dec. 129th. During the debates of the Economic Affairs Commission of the National Assembly of People’s Power, before the second regular period of sessions in its 10th Legislature, the island’s president identified three main problems in national development, being the economic blockade of the United States that affects the nation the most.

He denounced that the country has experienced a more severe blockade compared to previous years, due to the 243 measures imposed during the Donald Trump administration that intensified the financial and energy persecution against Cuba.

The president highlighted the serious repercussions of the siege, emphasizing there are difficulties paying for ships with food, which leads to a fractured distribution of the basic basket, aggravating the economic conditions of the population.

He recalled that before the tightening of the blockade, Cuba had sources of financing, stable entry of fuel and access to credit, which allowed importing products and maintaining social programs.

However, he stressed that, currently, remittances and available foreign exchange have decreased. In this sense, he reiterated the commitment to move towards the future, without losing sight of the conviction and determination necessary to overcome current economic challenges.

He considered that, although measures must be taken to address these challenges, it is vital to do so in a comprehensive manner and consider the effects on different sectors of society, especially on children, young people and the elderly.

In the long term, he stressed, these measures will contribute to ordering the economy.

Regarding the errors committed in the economic order, Díaz-Canel pointed out the need to rectify these deviations and establish adequate rules to guarantee sustainable local development.

The Cuban president urged to address the problems with determination and optimism, highlighting the creative resistance visible in some provinces such as Villa Clara, where progress has been made in food production.

In addition, he mentioned the concept of circular economy applied by some micro, small and medium-sized companies, which take advantage of waste to generate new products.