On Monday, the Cuban government made official the price cap on six basic products, a measure that applies to all economic actors in the country.
The Cuban Prime Minister has stated that these regulations “do not represent a crusade once morest MSMEs or non-state forms of management.”
“We must insist that, contrary to what some enemies of the Revolution say, all these regulations that are here are not a crusade once morest MSMEs or once morest the non-state form of management. We are talking regarding policies that were approved at the Party Congress and that are already conceived in the entire economic and social development strategy of the country,” said the president.
Price cap measure in Cuba
The new legislation seeks to regulate and control the Cuban economy, not prohibit or reverse progress made, Marrero Cruz said.
“The participation of different actors, state-owned companies, non-state actors, cooperatives and even the participation of foreign investment. This is not regarding prohibiting or taking a step back, this is regarding regulating, it is regarding controlling,” he added.
He said that the initial regulations that were approved included an update following two years. The leader said that the provisions presented many unforeseen aspects, leaving “legal loopholes that led to distortions” and “mistakes made by state counterparts in contracts.”
In this regard, he argued that these regulations were implemented for these reasons in order to “continue to advance and seek the best for the country, making clear the role of each actor in the national economy.”
Marrero Cruz I make it clearhowever, that “the Constitution establishes that the main actor in the economy is the socialist state enterprise, while non-state forms of management are a complement to this.”
Cuban government limits SMEs
At a previous press conference, the Minister of Finance and Prices, Vladimir Regueiro Ale, acknowledged that “the proposed prices continue to be high for the population.” However, he stated that “the measure will allow their increase to be contained.”
The resolution, which is already in force, contains another controversial aspect: it limits the profit that marketers can obtain from the sale of these regulated products by up to 30%.
“We can say that a 30% profit margin is extraordinary. It is sufficient and satisfactory for any economic actor that carries out any type of activity, whether productive, service or commercial,” the Cuban leader said.
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