Cuba: Economic Plan and State Budget for 2012 Approved, 3.4% GDP Growth Foreseen
Cuba’s Economic Plan and State Budget Law for 2012 were approved on Friday during the Eighth Ordinary Period of Sessions of the Seventh Legislature of the Cuban National Assembly (Parliament) at Havana’s Convention Center.
“The Economic Plan for the coming year foresees a 3.4% increase in the Gross Domestic Product, slightly higher than the 2.7% achieved in 2011, and it demands more efforts, efficiency, organization, and saving,” the Minister of Economy and Planning, Adel Yzquierdo Rodriguez told parliamentarians.
In this respect, he noted that the Economic Plan and the State Budget Law —except for the items of revenues and spending— will be analyzed at all workplaces beginning in early 2012.
“It will be a very important process so that workers know and share what’s relevant to their workplaces and so that they can play a decisive role in its implementation,” he explained.
It was also announced that more than 800 million pesos will be earmarked to subsidies for low-income people as part of the Budget Law for 2012.
In this regard, the Minister of Finances and Prices, Lina Pedraza, pointed out that the government guarantees this support to needy people in spite of the existing economic shortages.
Speaking on the implementation of the agreements reached during the Sixth Congress of the Cuban Communist Party (PCC) held last April, Marino Murillo, Vice President of the Council of Ministers, referred to the big challenges lying ahead until the year 2015, and said that discipline, integrality and preparation are key elements to face these difficulties.
“The Economic Plan for the coming year foresees a 3.4% increase in the Gross Domestic Product, slightly higher than the 2.7% achieved in 2011, and it demands more efforts, efficiency, organization, and saving,” the Minister of Economy and Planning, Adel Yzquierdo Rodriguez told parliamentarians.
In this respect, he noted that the Economic Plan and the State Budget Law —except for the items of revenues and spending— will be analyzed at all workplaces beginning in early 2012.
“It will be a very important process so that workers know and share what’s relevant to their workplaces and so that they can play a decisive role in its implementation,” he explained.
It was also announced that more than 800 million pesos will be earmarked to subsidies for low-income people as part of the Budget Law for 2012.
In this regard, the Minister of Finances and Prices, Lina Pedraza, pointed out that the government guarantees this support to needy people in spite of the existing economic shortages.
Speaking on the implementation of the agreements reached during the Sixth Congress of the Cuban Communist Party (PCC) held last April, Marino Murillo, Vice President of the Council of Ministers, referred to the big challenges lying ahead until the year 2015, and said that discipline, integrality and preparation are key elements to face these difficulties.
Source:
Agencia de Información Nacional
Date:
26/12/2011