Cuba: budget adjustment proposed to parliament
Havana, June 29 (Prensa Latina) Cuba's Minister of Finance and Prices, Meisi Bolaños, has proposed a readjustment of the 2020 State Budget, which will be submitted to parliament for approval, press sources said today.
This step is due to the effects caused by the Covid-19 pandemic, for which a significant impact on income is estimated, Bolaños said in the June session of the Council of Ministers, led by the President Miguel Díaz-Canel and Prime Minister Manuel Marrero, reported on by the Granma newspaper.
The minister clarified that the decrease in income is concentrated in the wholesale and retail commercialization of goods and services, in tariffs and in contributions for business results.
In this situation, she expressed the need to make a significant reduction in expenses, 'because we cannot spend what we do not generate', she said.
In the budgetary management it was necessary to support all the measures in the sanitary order for the prevention and confrontation of the SARS-CoV-2 coronavirus.
That meant an increase of approximately one billion pesos (equal in dollars to the official exchange rate), destined for public health, isolation centers, food, transportation and salary guarantees, added the minister.
This shows, minister Bolaños argued, that in the midst of these tensions, life remains the essential principle of the budget.
In this regard, Deputy Prime Minister Alejandro Gil stated that the first measure to improve these numbers is to conduct differently the management of expenses.
We have always called to save and not spend on things that are not essential, but now we are facing a decisive scenario. We have to incorporate activities, better manage collections and open opportunities for the non-state sector to become more inserted in the country's economic recovery, added the also Minister of Economy and Planning.
During the session, the liquidation of the State Budget for 2019 was presented, as well as the control actions carried out by the Office of the Comptroller General of the Republic for that budget year.
Comptroller General Gladys Bejerano said there is still indiscipline in work systems and non-compliance with legal provisions.
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