There is no encouraging news for the Cuban economy. Data provided this Monday in the Council of Ministers speak of an “unfavorable outlook.”
The Minister of Economy and Planning, Joaquín Alonso Vázquez, presented the report on the behavior of the main indicators of the Economy, at the end of the month of March.
According to Granma, “in general terms, an unfavorable outlook appears.” Among the elements that have led to this are:
- Decrease in income from exports,
- Decrease in imports,
- Failure to comply with key economic activities, such as the main agricultural production, sugar and other derivatives, as well as the generation of electricity.
The head of the Ministry reported that “more than 300 companies are registering losses in strategic sectors.”
Likewise, he made reference to the “persistent” depreciation of the Cuban peso due to the informal exchange rate and, consequently, the increase in prices.
According to the information offered, there is only positive behavior in exports of the main services: medical, tourism and telecommunications.
Once again, the Cuban government addresses the issue of the informal exchange rate of currencies in Cuba, although they did not mention how much progress has been made in the official exchange proposals advanced last December.
Euro and Dollar soar in the informal market
Cuba woke up this April 29 with new historical marks for the exchange of the euro and the dollar, the latter with an increase of 5 continuous days, according to the representative daily rate of El Toque.
In this way, the rate of the European currency stands at 384 Cuban pesos, that of the USD at 375 CUP and that of the MLC at 290 pesos CUP.
While this is happening, the network of Exchange Houses announced its exchange rate for today, set as follows: 1 EUR is sold for around 134 pesos and is bought for around 126. The US currency is purchased for approximately 111 pesos and is It sells for around 124 CUP.
2024-04-30 09:42:07
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