The state budget for 2014 was approved by the Cuban Parliament, which meets in its last session in 2013. According to the national media, the highest incidence is in financing export and import substitution.
It was learned that 54 percent of the funds will be spent on education and public health (with 27 and 22 percent, respectively). Social assistance will have a support of 341 million pesos, of which 58 percent goes to the attention of the construction status of Grandparents Homes and Nursing Homes, consistent with the level of increasing of the aging population.
For current activity budgeted expenses were approved 31, 8 billion million pesos (similar in dollars), while current transfers to the unbudgeted activity, expenses for 12.1 billion pesos were approved, representing an increase of 2.177 billion pesos, a 22 percent growth.
Funding of basic goods at subsidized prices require 2.437 billion pesos, representing 314 million more than the estimated for the end of this year.
The Cuban budget will operate with a deficit that is expected to be 1.899 billion pesos. The Minister of Finance and Prices, Alina Pedraza admitted that the growth of the deficit is higher than the growth of gross domestic product, causing an imbalance that is expected to be recovered by2015.
It is estimated that the total liquidity in the hands of the population (cash and deposits in Cuban convertible pesos plus dollar deposits) will grow between six and eight percent, close to the behavior in earlier periods.
Author
Redacción OnCuba
