Updating of Cuban Economic Model debated in Parliament

Updating of Cuban Economic Model debated in Parliament

Havana, Dec 13 (Prensa Latina) Cuban vice president Marino Murillo offered details on advances and new measures of the updating process of the economic model, before some 600 deputies of the national parliament.

In this regard, he declared that the study of more profound policies and the drafting of adequate legal norms to advance in the updating of the economy, mark the work of the Commission for the Application of the Guidelines approved by the Sixth Congress of the Cuban Communist Party.

According to Murillo, who heads that Commission, the updating process is in advanced stage of outlining the concept of a Cuban economic model with a long-term projection. Among the macroeconomic policies, Murillo pointed they include the introduction of wholesale and retail prices, the monetary and exchange unification, a complex problem of the domestic market.

As for the Tax Law already approved and whose application will start on January 1st, 2013, he considered the legislation adjusted to modifications of the updating process and highlighted it was approved by the regulatory system to be applied.

Regarding to the creation of non-agricultural cooperatives, he pointed out that decrees allowing for the introduction of the planned 230 entities in an experiment that will monitor their performance.

Murillo also referred to the strengthening of state enterprises, based on an experiment to be carried out in 2013 to increase the autonomy of those firms and their faculties to handle their own financial and economic management.

These modifications target the increase of profits in order to raise workers´ incomes as well as facilitate the creation of a wholesale market.

According to the presentation, the Enterprise Group of the Sugar Industry and the Group of Biotechnological and Pharmaceutical Enterprises are some of the companies included in the experiment.

Another issue approached by the vice-president refers to the concession of credits, which increased to 85 thousand loans for a total of 596 million pesos, most of which for housing construction.

Also, Murillo referred to the advances achieved in renting an office and stores to non-state workers, as well as the study being carried out about the new forms of self-employment which will define the reach of each activity.

Via Cubadebate

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