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The Cuban government announced this Wednesday a new set of economic measures to "correct distortions" and "revitalize the economy" in 2025.
The Prime Minister Manuel Marrero Cruz announced the measures during a meeting with governors and the mayor of the special municipality Isla de la Juventud.
Among the main actions is the update of electricity rates in certain sectors. They claim this is part of a strategy to "encourage savings," amid the energy crisis that Cubans are experiencing, with blackouts lasting over 20 hours in many provinces.
Additionally, centralized maximum retail prices will be established for basic products such as rice and nationally produced beans.
Another relevant measure is the update of the construction pricing system, which will apply to all economic actors and business modalities, both state and non-state management forms (FGNE). The government assures that the goal is to strengthen productive linkages.
The regime will implement the use of prepaid cards for legal entities for the purchase of fuels. This measure comes after the announcement that, due to the shortage of gasoline in the country, it will only be available in foreign currency.
The economic plan also includes the implementation of incentives to attract foreign investors back to the Mariel Special Development Zone, as well as the establishment of a new mechanism for the management, control, and allocation of foreign currencies for all economic actors.
In the labor sector, a reorganization of commerce conducted by the FGNE is anticipated, along with the redistribution of unexecuted salary funds within budgeted units. The State has stated that the aim is to encourage the retention of the workforce through the fulfillment of specific functions and missions.
The official press noted that the new economic measures, which are already being implemented, arrive "without providing too many details." Authorities will provide "more information in the coming days" as the assurance of each action progresses.
Other topics addressed during the meeting included the maternal and child health program, the operation of municipal agro-industrial businesses, and the quality of community services.
Frequently Asked Questions about the New Economic Measures in Cuba 2025
What are the main economic measures announced by the Cuban government for 2025?
The Cuban government has announced a package of measures to revitalize the economy in 2025, which includes updating electricity rates, establishing maximum retail prices for basic goods, allowing legal entities to use prepaid cards for fuel purchases, and attracting foreign investors to the Mariel Special Development Zone. These actions aim to correct economic distortions and strengthen productive linkages.
What are the implications of the partial dollarization of the Cuban economy?
The partial dollarization of the Cuban economy allows the use of the dollar in key sectors such as wholesale and retail trade, and tourism services. This measure aims to attract more foreign currency and reorganize the market, but it may also deepen inequalities, as many Cubans do not have access to dollars, excluding them from certain economic benefits.
How will the new economic measures affect the Cuban population?
The new economic measures could increase inequalities and the cost of living in Cuba. The update of electricity rates, centralized retail prices, and the elimination of subsidies for the basic basket could raise the economic burden on families, especially those without access to foreign currency. The government promises to redirect subsidies to vulnerable individuals, but has not detailed how this will be effectively implemented.
What criticisms exist regarding the new economic program of the Cuban government?
The new economic program of the Cuban government has been criticized for being propagandistic and lacking a detailed plan and concrete measures. Experts point out the continuity of structural problems and the lack of effective solutions for macroeconomic stabilization and the improvement of the well-being of Cuban households. The official discourse is seen as empty and disconnected from the real urgencies of the economy and the population.
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