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Cuba's Council of Ministers Approves Economic Plans in Extraordinary Session

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Olalekan Adigun
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Cuba's Council of Ministers Approves Economic Plans in Extraordinary Session

In an extraordinary session held on December 6, 2023, the Council of Ministers of Cuba approved key economic documents pivotal for the country's forthcoming financial planning. This decisive move comprised the validation of the estimated economic execution report for the year-end of 2023, the proposed Economic Plan for 2024, and the Draft State Budget for the following year.

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Preparing for the National Assembly of People's Power

These critical documents are now set to be presented to the deputies during the Second Ordinary Period of Sessions of the National Assembly of People's Power, in its Tenth Legislature, commencing December 20th. This progression underlines the government's commitment to ensure Cuba's economic and social development is transparent and involves the citizenry's engagement.

Future Implications of the Economic Measures

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The implications of these economic measures are far-reaching. They not only provide a roadmap for Cuba's financial future but also reflect the country's resilience in the face of challenges such as the US maximum pressure sanctions. These sanctions have led to a significant drop in wages for state workers, causing an unprecedented brain drain, particularly in the health and education sectors.

A New Family Code and Public Participation

Beyond economic planning, the article also highlights a forthcoming popular referendum scheduled for September 25. During this event, Cuba will vote on a new Family Code, further stressing the government's efforts to involve the populace in significant national matters.

Amidst the backdrop of these economic measures and the anticipated public referendum, Cuba's journey towards a more inclusive and resilient future takes a decisive stride forward.

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