The Cuban government has recently allocated approximately $ 998 million Cuban pesos (CUP) for the revitalization of a series of companies dedicated to the production of goods and services, to compensate for the loss that they have accumulated over the years and face their lack of liquidity.
When presenting an update of the State budget to the Economic Affairs Commission of the Cuban Parliament for the first semester of 2011, the Minister of Finance and Prices, Lina Pedraza, He told the ministries on the priority list are those of agriculture, food, light, basic and iron and steel, domestic trade and construction.
Pedraza said that the capitalization of the business system will focus on subsidized products such as rice and beans first, since their production is still insufficient, and that it includes restructuring the finances of companies and in some cases, solving their debt, in an attempt to improve your management ability.
The minister announced that for the rest of 2011, people will subsidize the purchase of construction materials according to their income.
Likewise, the government will try to get raw materials destined for the self-employed, such as wheat, oil and eggs, while a definitive solution in the creation of a wholesale market is reached, Lina Pedraza explained.
As part of the budget update, Pedraza said that the expansion income and expenses in the same proportion, and the deficit of $ 2.6 million approved in the previous session of the National Assembly, representing 3,8 percent of the country's Gross Domestic Product.
The minister made it clear that he did not comply with the sale of basic products and circulation programs due to the low demand for certain goods, as well as inefficiencies in actions to collect debts with the State in most provinces , have negatively affected the collection.