Most of the Cuban provinces in phase three of the post-Covid-19 recovery

By Lázaro David Najarro Pujol

July, 2020.- After more than four months of intense work, most of the Cuban provinces, including Camagüey, are going through the third phase of the first stage of the recovery of the Covid-19, in which various measures are applied to promote the economy.

Throughout the country, only the third phase is excepted: Havana, Mayabeque and the special municipality of Isla de la Juventud, which do not yet show favorable health indicators.

In Camagüey in this period almost all services are restored. Also since yesterday the first of these provisions came into force: “the expansion of sales in freely convertible currency (MLC) to hardware, cleaning and food products”, as well as “the elimination of the 10 percent tax on the use of dollar”.

Information published by Prensa Latina abounds that “both measures contribute to the objective of raising foreign currency, given the contraction of the sources of obtaining these and the need to use them to purchase equipment and raw materials for the industry in foreign markets, in addition of other resources that the nation needs “.

“In the case of lifting the tax on the use of the dollar, after 16 years of application, it seeks to confer greater purchasing power in the new national scenario,” said Vice Prime Minister Alejandro Gil.

Prensa Latina points out that “these regulations arose in response to the prohibitions on the blockade of operating with dollars in foreign banks, which forces the Caribbean nation to buy other currencies, with the consequent losses due to exchange rates.”

“Taxing the banknotes,” he continues, “which would enter the country would offset those costs, as well as the risks associated with their physical transfer abroad, in addition to encouraging the entry of the currency through bank channels or the use of other currencies.”

“Currently the expansion of trade in MLC is also stimulating the bank channel for the entry of foreign currency into the country, so eliminating the tax increases the purchasing capacity in the hands of the people.”

“In addition, the largest of the Antilles invests MLC in the acquisition of mid-range and high-end products to supply businesses, for which it receives national currency or CUC that it cannot then use to resupply or buy economic products.”

In as much the president of Cuba, Miguel Díaz-Canel explained before the Council of Ministers that the country needs to have money for a part to inject it into the national industry ”.

“Everything we are proposing and everything we are working on is being done to seek a common good, which is to improve, even in crisis conditions,” said the Cuban president.

Díaz-Canel added that, although some food will be sold in foreign currency, to which a part of the population will have access, it will continue to protect all Cubans, “even those who have foreign currency,” with the subsidized sale of food.

“We are ‘thinking and acting for the good of all,’ he stressed and urged those who lead ‘explain that, sometimes, to benefit everyone, measures must be implemented that seem’ to benefit the few, but which will ultimately benefit all. ‘. (Author’s photos).(Translated by Linet Acuña Quilez)

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