{"id":10474,"date":"2025-07-17T14:49:58","date_gmt":"2025-07-17T11:49:58","guid":{"rendered":""},"modified":"2025-07-17T14:49:58","modified_gmt":"2025-07-17T11:49:58","slug":"cuba-approves-comprehensive-reform-plan-for-its-foreign-exchange-market","status":"publish","type":"post","link":"https:\/\/harici.com.tr\/en\/cuba-approves-comprehensive-reform-plan-for-its-foreign-exchange-market\/","title":{"rendered":"Cuba approves comprehensive reform plan for its foreign exchange market"},"content":{"rendered":"<p data-spacing=\"double\">Cuban Prime Minister Manuel Marrero Cruz, in a speech to the National Assembly of People&#8217;s Power, gave a detailed presentation on the country&#8217;s economic performance in the first half of the year. He stated that Cuba is operating under conditions he described as a &#8220;war economy&#8221; due to the escalating US blockade.<\/p>\n<p data-spacing=\"double\">Marrero highlighted the successes of the government&#8217;s program to correct errors and promote economic growth, while noting that current challenges will be addressed through reformist policies.<\/p>\n<p data-spacing=\"double\"><strong>&#8216;Inflation is slowing, but the level remains high&#8217;<\/strong><\/p>\n<p data-spacing=\"double\">Prime Minister Marrero noted that annual inflation was 14.75%, which is below the initial forecasts of 30%.<\/p>\n<p data-spacing=\"double\">He pointed out that there is a trend of relative slowdown in the inflation rate but stated that current levels are still high, which negatively affects prices and the livelihood of the people.<\/p>\n<p data-spacing=\"double\">Regarding monetary policy, the prime minister announced that the government is continuing the practice it calls &#8220;partial dollarization,&#8221; despite an official strategy to end it.<\/p>\n<p data-spacing=\"double\">Marrero emphasized that collecting foreign currency and directing it toward social programs is a priority under the current economic conditions.<\/p>\n<p data-spacing=\"double\">Additionally, Marrero announced that the government has approved a comprehensive plan to reform the foreign exchange market. The plan includes updating cash transaction systems in all regions and implementing a clear communication policy with citizens to explain these reforms.<\/p>\n<p data-spacing=\"double\">The Prime Minister stated that the supply of foreign currency is a fundamental condition for implementing the economic plan, adding that steps are being taken to simplify procedures and expand cooperation between public companies and the private sector to encourage foreign investment.<\/p>\n<p data-spacing=\"double\"><strong>&#8216;Housing plan falls short of targets&#8217;<\/strong><\/p>\n<p data-spacing=\"double\">Addressing the housing crisis, Marrero acknowledged that only 53% of the housing plan could be implemented.<\/p>\n<p data-spacing=\"double\">The Prime Minister attributed this situation to the shortage of raw materials and fuel, as well as the limited production of domestic construction materials.<\/p>\n<p data-spacing=\"double\">The Cuban Prime Minister also presented the main outlines of the government&#8217;s roadmap for the second half of the year.<\/p>\n<p data-spacing=\"double\">The plan focuses on implementing monetary reforms, increasing exports and investments, boosting food production, improving tax and wage policies, reducing power outages, and enhancing the water supply.<\/p>\n<p data-spacing=\"double\"><strong>&#8216;Trump administration responsible for tightening the blockade&#8217;<\/strong><\/p>\n<p data-spacing=\"double\">In his speech on external challenges, Marrero held the administration of US President Donald Trump responsible for tightening the economic blockade.<\/p>\n<p data-spacing=\"double\">The Prime Minister stated that aggressive policies aimed at blocking imports and discouraging trade partners from investing in Cuba continue with the goal of suffocating the national economy.<\/p>\n<p data-spacing=\"double\">Marrero Cruz concluded his speech by emphasizing the need for national unity in the face of current conditions, stating that challenges persist in vital sectors such as electricity and prices.<\/p>\n<p data-spacing=\"double\">However, Marrero expressed confidence in Cuba&#8217;s ability to protect the gains of the revolution and build a more just and stable society.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cuban Prime Minister Manuel Marrero Cruz, in a speech to the National Assembly of People&#8217;s Power, gave a detailed presentation on the country&#8217;s economic performance in the first half of the year. He stated that Cuba is operating under conditions he described as a &#8220;war economy&#8221; due to the escalating US blockade. Marrero highlighted the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10475,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[176],"tags":[11346,11348,11351,319,11353,11349,11355,11356,11347,11354,11352,11350,8034],"class_list":["post-10474","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-america","tag-cuba-economy","tag-cuban-government","tag-cuban-inflation","tag-donald-trump","tag-economic-growth-cuba","tag-foreign-exchange-reform","tag-foreign-investment-cuba","tag-housing-crisis-cuba","tag-manuel-marrero-cruz","tag-national-assembly-of-peoples-power","tag-partial-dollarization","tag-us-blockade","tag-war-economy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cuba approves comprehensive reform plan for its foreign exchange market - 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