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Tuesday, February 7, 2023

Cubans have bought over $15 million from the state

In a speech at the X Ordinary Session of the National Assembly, Economy Minister Alejandro Gil reported progress on the official exchange market.

In this context, he announced that in four months Cubans Have Purchased Over $15 MillionA Cuban TV report said “10 times more than before the measure was implemented”.

“What has been done with these 15 million plus dollars?” Before giving details in this regard, asked the head of the economy on the island.

“A significant portion, about nine million, has been sold back to the population in CADECA,” blessed Assurance,

The Cuban leader recognized the main dissatisfaction with the official exchange market in Cuba: “With queues, with problems, it is not enough, it is not enough, there is much more demand than supply, but before it was zero. ,” They said.

In this sense, Gil Fernandez said that “specifically, the exchange market has its source, which is the currency it buys. The currency you buy is the currency you sell.”

Therefore, he believed that “to the extent that we can develop tourism, incorporate more remittances and find a way to earn more, the exchange market will grow.”

Cuba’s deputy prime minister also stressed that it is “a preliminary mechanism” that is still “four months old.” However, he believes that “it is also offering possibilities for the inclusion of new economic actors”.

exchange market in cuba

When announcing the establishment of an exchange market in Cuba, Alejandro Gil himself expressed that the government could not come out with “the current official exchange rate of 1×24”.

“We would need a level currency that would force us to give up other economic priorities (there would be no money to buy rice boats, for example)” Explained those days.

One of the objectives pursued, preventing the “proliferation of the informal market” from continuing, has not been met. was quoted in US dollars 200 cuban peso,

The official press questioned the exchange rate policy carried out by the government itself, describing it as “sytemecina”.

World Nation News Desk
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