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This year, Cuba faces an economic adjustment that will have direct repercussions on the pockets of its citizens. The increase in prices of key elements such as fuel, energy, water and various foods poses a challenging scenario. The Government of Miguel Díaz-Canel maintains that the measures are necessary given the current difficulties on the island. Will the adjustment boost Cuba's finances or make daily life even more expensive? We analyze it in El Debate.
Cuba begins 2024 waiting for the economic adjustments announced by the Government of Miguel Díaz-Canel to face the crisis. This year, the price of fuel will rise more than 500%, and the price of electricity, water, transportation and even tobacco and medicinal plants will also increase.
On the other hand, the subsidies given by the Executive for the family basket are decreasing. A situation that has been going on for a long time. Coffee and sugar have dropped in the ration card, which is the program with which the Castro government has distributed food for more than 60 years. In 2003, they gave citizens 207 grams of coffee every month, and last year it was only 20 grams. While refined sugar went from 1.6 kilos in 2003 to less than a kilo in 2023.
All this is a reflection of the economic difficulties that the country is going through. Some that the Government explains by the United States embargo, global inflation and the pandemic. Will the macroeconomic adjustment serve to boost the island's finances? Will it result in an additional increase in the cost of daily life for Cubans? We analyze it in this edition of El Debate with the help of our guests:
– Sergio Ángel, associate professor and principal researcher of the Cuba Program at the Sergio Arboleda University.
– Matías Caciabue, university professor and analyst at the Latin American Center for Strategic Analysis, associated with the 'Nodal' portal.
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