Cuba:  Reduction in food prices of up to 20%

Source: Granma
April 28 2016

Cubans welcomed the measure designed to increase the population’s purchasing power over the short term.

cubans welcome reduction in food prices.jpg

by Redacción Nacional |

Cubans welcomed the announcement on April 22 of a reduction of up to 20% in the price of certain products, mainly foodstuffs.

The Ministry of Finance and Prices highlighted in an informative note published the same day in the national press, that the Central Report to the 7th Party Congress, held April 16-19, states that “salaries and pensions are still insufficient to meet the needs of the Cuban family.”

Gradually increasing the population’s purchasing power in the short term

The note adds that although the definitive solution to this complex situation will only be reached through an increase in the productivity and efficiency of the national economy, “the political will of the Party and government leadership to do everything possible to improve the situation of the population in the context of existing limitations, as well as a drop in food prices on the world market,” have led to the adoption of such measures, which aim to gradually increase the population’s purchasing power over the short term.

The announcement had an immediate impact: “Great news, I think the country’s policies should continue along this line, not only with well-deserved wage increases based on greater productivity, but by continuing to reduce prices, above all of basic and essential products,” stated Jorge Luis, one of the many readers who expressed his reaction to the measure on the Granma website.

Building a prosperous and sustainable socialism

raul reports to the 7th congress of the pcc.jpgCuba is currently in the process of updating its economic model in order to build a prosperous and sustainable socialism. As President Raúl Castro stated at the close of the recently held 7th Party Congress, this process demands “that the principles of justice and equality, which have served as the Revolution’s foundation, be preserved and strengthened.”

The Communist Party of Cuba First Secretary added, “A Revolution of the humble, by the humble and for the humble, as Fidel defined it, with undeniable social works constructed, will never find solutions to its problems behind the backs of the people, or with the restoration of capitalism, which would imply the application of shock therapies to layers of the population with the least resources, and destroy the unity and confidence of the majority of our citizens in the Revolution and the Party. In Cuba, I reiterate once again, no one will be left to their fate.”


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