Cuban Government Describes as Ineffective and Harmful the 30% Profit Cap on Sales from the Private Sector to the State

Economist Pedro Monreal points out that this measure “entails the risk of corrupt markets.” 14ymedio, Madrid, 28 June 2024 — Cuba’s private sector will be able to obtain a maximum profit of 30% on the goods and services it sells to the State as of July 1. This Thursday, the Cuban Government made public a resolution … Continue reading “Cuban Government Describes as Ineffective and Harmful the 30% Profit Cap on Sales from the Private Sector to the State”

Six Havana Markets Allowed to Charge 30% above Regulated Price

14ymedio, Havana, 12 August 2019 — Price controls now seem inevitable for privately run markets and services. According to a announcement from the Provincial Administrative Council (CAP), maximum prices private businesses and self-employed workers in Havana may charge will be regulated starting Thursday, August 15. The affected businesses also include supply-and-demand markets and pushcart vendors. … Continue reading “Six Havana Markets Allowed to Charge 30% above Regulated Price”

Marrero Blames Private Businesses for the State Deficit and Praises Forced Sales for Violations of Capped Prices

According to the Prime Minister, private individuals evaded 50 billion* pesos, and 354 sales of ’hidden’ products had to be forced 14ymedio, Madrid, July 18, 2024 — We could not expect anything other than a long list of economic penalties from Prime Minister Manuel Marrero’s intervention this Wednesday in Parliament, in which he evaluated the … Continue reading “Marrero Blames Private Businesses for the State Deficit and Praises Forced Sales for Violations of Capped Prices”

Cienfuegos, Cuba, Decrees a 75 Percent Reduction in the Prices of Sweet Potatoes, Cassava and Bananas

14ymedio, Havana, November 1, 2023 —  On Wednesday, the provincial government of Cienfuegos decreed a cap on the prices of food sold in both state and private markets. It is expected that the measure, which does not take into account the abysmal difference between the real cost of the product and that imposed by the authorities, … Continue reading “Cienfuegos, Cuba, Decrees a 75 Percent Reduction in the Prices of Sweet Potatoes, Cassava and Bananas”

Cuba’s Private Sector Fears the Government Will Not Let Them Have U.S. Bank Accounts

Manuel Marrero’s announcements have generated both pessimism and uncertainty, the last thing the private business sector wants 14ymedio, Madrid, 29 July 2024 — Fear has quickly spread among the island’s small business owners who, just a few months ago, were looking forward to a modest thaw in relations between Cuba and the United States. Prime … Continue reading “Cuba’s Private Sector Fears the Government Will Not Let Them Have U.S. Bank Accounts”

In Sancti Spíritus, Cuba, the Order To Combat ‘MSMEs’ Has Been Given

Authorities investigate state-owned companies that pay “millions” to the private sector 14ymedio, Havana, 8 August 2024 — The leaders of Sancti Spíritus, Cuba, aspire to become the elite squad in the government’s crusade against MSMEs. President Miguel Díaz-Canel had asked, during a session in Parliament last month, to liquidate the “excessive payments from the state … Continue reading “In Sancti Spíritus, Cuba, the Order To Combat ‘MSMEs’ Has Been Given”

Almost 400 Private Businesses Are Fined for Violating Price Caps While Products Disappear

Readers of the official press are divided between those in favour of a heavy hand and those against the government’s measures 14ymedio, Madrid, 12 July 2024 — In less than 72 hours, the Cuban authorities already had almost 400 violators of the price cap for six basic products that came into force on Monday. Last … Continue reading “Almost 400 Private Businesses Are Fined for Violating Price Caps While Products Disappear”

Capped Prices for Chicken and Five Other Products Take Effect This Monday in Cuba

The Cuban Government will update prices when necessary and may include other goods 14ymedio, Havana/Madrid, 8 July 8, 2024 — The Cuban Government has acted to exempt from tariffs the import of six basic products whose prices will be high: chicken, powdered milk, cooking oil, sausages, pasta and detergent powder. The resolution was published in … Continue reading “Capped Prices for Chicken and Five Other Products Take Effect This Monday in Cuba”

Private Businesses in Cuba Hide the Chicken and Other Products To Avoid the Capped Prices

State foreign exchange shops sell the same items at more expensive prices 14ymedio, Juan Diego Rodríguez/Olea Gallardo, Havana, 3 July 2024 — A day after the new measures announced by the Government on June 27, which establish a maximum profit margin of 30% on private sales to the State, it is not yet known with … Continue reading “Private Businesses in Cuba Hide the Chicken and Other Products To Avoid the Capped Prices”

Without Explanation, the Established Price Caps Are Canceled for the Private Sector in Cuba

The measure was due to come into effect on Monday for chicken, sausages, oil, spaghetti, powdered milk and detergent. 14ymedio, Havana, 1 July 2024 — As of this Monday, the prices capped for micro, small and medium-sized enterprises (MSMEs) should be a reality. At least in the municipality of Plaza de la Revolución (Havana), in … Continue reading “Without Explanation, the Established Price Caps Are Canceled for the Private Sector in Cuba”

Quisicuaba, or the ‘Revolutionary Calling’ To Look After the Poor

The official press celebrates with “hope” the work of the project in a new report on begging 14ymedio, Havana, 26 April 2024 — In the second part of a report on beggars in Cuba, in which the authorities recognize that the State is not able to deal with the increasing number of homeless people, the … Continue reading “Quisicuaba, or the ‘Revolutionary Calling’ To Look After the Poor”

While the Euro Reaches 300 Cuban Pesos, the Government Keeps Going in the Same Direction

14ymedio, Havana, 6 February 2024 — The regime’s concern about the current crisis has led the official newspaper of the Communist Party of Cuba to once again publish the Economy section, which will appear in Granma on a weekly basis. Its first article, signed by Joel Ernesto Marill Domenech, author of several texts with proposals … Continue reading “While the Euro Reaches 300 Cuban Pesos, the Government Keeps Going in the Same Direction”

Steps Towards the Disaster of Cuba’s ‘Bancarizacion’ [Banking Reform]

14ymedio, Elías Amor Bravo, Economist, November 25, 2023 — Bancarización* (banking reform) in Cuba is becoming a one-act comedy for those who are bored with the low quality of the script and the cast that participates. Almost half a year after the approval of Resolution 111 of the Central Bank of Cuba, the conclusion that … Continue reading “Steps Towards the Disaster of Cuba’s ‘Bancarizacion’ [Banking Reform]”

Scarcely 59 Percent of Passenger Transport in Cuba is Operating

14ymedio, Havana, 12 December 2022 — Passenger transport in Cuba is in a limited situation, as revealed this Sunday in the parliamentary committee on attention to services, which took place in the presence of the Prime Minister, Manuel Marrero Cruz. The plan has been fulfilled by just 59%, said Eduardo Rodríguez Dávila, Minister of Transport, … Continue reading “Scarcely 59 Percent of Passenger Transport in Cuba is Operating”

Senora Bejarano and the Internal Control of Socialist State-Run Businesses in Cuba

Elías Amor Bravo, Economist, September 8, 2022–Cuban state-run businesses go from one mess to another. They spend more time receiving orders, executing them and subjected to controls than efficiently producing and generating wealth, which is what they should be dedicating themselves to. And now, as if the demands of the regime were not enough for … Continue reading “Senora Bejarano and the Internal Control of Socialist State-Run Businesses in Cuba”