Diaz-Canel: The solution to the country's economic woes will have to be solved with its efforts and creativity

Edited by Jorge Ruiz Miyares
2022-07-22 22:15:04


Cuban President,  Miguel Diaz-Canel Bermudez, delivers the closing remarks
of the 9th Ordinary Session of the Cuban Parliament in its 9th legislature.

Havana, July 22 (RHC)-- Cuban President Miguel Diaz-Canel Bermudez reiterated Friday that Cuba must get used to the prolonged existence of the U.S. economic, financial, and trade blockade and that imperialism will not easily relinquish this ruthless weapon against the island.

In making the conclusions of the 9th regular session of the 9th Legislature of the Parliament, he stated that the solution to the country's economic woes would have to be solved with its efforts and creativity, despite the blockade.

The President said that Cuba did not rule out the eventual possibility of a better understanding with the government of the United States towards a relationship of respect and affirmed that the island is willing to dialogue on any issue without undermining its sovereignty.

"We will continue to promote and facilitate the broadest possible ties with numerous sectors of that country that are willing to move closer to Cuba, including Americans of Cuban origin. We are convinced that there are mutual benefits in the exchange between the two nations despite the great differences," Diaz-Canel noted.

Cuba's track record in developing its foreign relations demonstrates that the promotion of peace, cooperation, and solidarity are defining characteristics of its international projection, something that has been, he argued.

Diaz-Canel said that authorities are very conscious that the economy is the main challenge, and it has to be addressed with audacious measures adjusted to its economic and social model.

He said the announced measures, which are not free of risks, are aimed at stimulating the domestic market by attracting foreign currency, increasing export revenues, and reactivating national production.

To this end, he mentioned the creation of an exchange market of foreign currency, including the dollar, at an economically based exchange rate, the expansion of the allocation of foreign currency for state and non-state economic actors, the approval of the participation of  MSMEs in joint ventures with state entities and foreign investment, and making the imports of a non-commercial nature by individuals more flexible.

The Cuban President considered that these measures should gradually increase the supply of goods and services for the economic actors and the domestic market in national currency.

They would also help to put order in the foreign exchange market, have financial resources available for the attention of individuals and families in vulnerable situations, sustain and expand social programs, and honor debts and withheld payments.




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