Cuba moves to address cash shortages, limit actions of non-state entrepreneurs
1st July 2024 Cuba has moved to cap the profitability of non-state entities in their dealings with the state sector, and is to exert oversight of idle well-funded, tax-related bank accounts. Following a week in which several senior figures including the Prime Minister, Manuel Marero, criticised the profits being made by some MSMES and the […]
New immigration law updates rules for Cubans, migrants, resident foreigners
24th June 2024 Cuba has published a draft Immigration Law that is intended to update the position of Cubans, their descendants, and migrants, who travel into and out of the country, as well as that of resident foreigners, foreign investors and visitors. The lengthy draft which is subject to comment and revision before being considered […]
Ministers told economic situation still very tense, agree three priorities
10th July 2024 Cuba’s Council of Ministers has heard that the island’s economic situation continues to be “very tense.” An official report of the Council’s monthly meeting held at the end of May, noted however, that improvements have been seen in some indicators. At the meeting, ministers agreed three strategic priorities and a related new […]
Minister says reducing price inflation may take longer than expected
28th May 2024 Cuba’s Minister of Finance and Prices (MFP), Vladimir Regueiro Ale, has admitted that despite having updated the methodologies used to determine prices, Cuba’s government has so far not achieved its objective of reducing price inflation. “We have not achieved the effects we intended. Everything we have done that is new, even in […]
