Speaking on the first day of the 2nd Session of the National People’s Power Assembly (Parliament), in its 10th Legislature, Gil informed on Wednesday that the country also plans an inflation between 20 and 25 percent next year.

Among the objectives of the national economy, he mentioned d to advance in the implementation of the Macroeconomic Stabilization Program with the establishment of a monetary, exchange, financial and fiscal environment, which will bring better conditions for the recovery and growth of the economy, the convertibility of the national currency and the reduction of inflation.

Cuba will also pursue the goal of increasing and diversifying the country’s external income, promoting productive activity; in addition to advancing the development of the country’s business system and the integration between all economic stockholders.

It also plans the transformation in the structures and incentive schemes of the socialist state company with access to financial mechanisms, greater participation in national production and its link to territorial development.

Another primary objective is to improve social protection mechanisms and systematize the identification of vulnerable population segments, Gil added.

He announced that Cuba will focus on food production, the increase of which is essential to increase the supply to the population.

He pointed out that a slight recovery in the sugar industry is expected, with a production of 412,000 tons of raw sugar and 60,000 tons of refined sugar, higher by 20.6 percent and 12.8 percent than the estimated 2023, respectively.

In transportation, a gradual recovery is expected with a 29-percent increase in the cargo to be transported and a 25-percent rise in the number of passengers to be transported.

The state business system, in turns, predicts an increase in net sales of 5 percent; although according to the minister, progress must be made in the modifications to the resource allocation mechanisms and their institutional scheme.

Gil explained that the investment plan predicts a total budget of 125.365 billion pesos.

The Minister stressed that the success in the implementation of all the objectives and goals will be given in the possibility of articulating the various proposals for fiscal, monetary and exchange policies, in a correct sequence of execution, which will allow maximizing their positive impacts, as well as mitigating their potential negative effects.

jg/ro/mpp