{"id":190778,"date":"2018-12-20T17:51:49","date_gmt":"2018-12-20T22:51:49","guid":{"rendered":"https:\/\/oncubanews.com\/en\/?p=190778"},"modified":"2018-12-20T17:51:49","modified_gmt":"2018-12-20T22:51:49","slug":"marino-murillo-cuba-is-working-at-a-fast-pace-on-the-monetary-unification","status":"publish","type":"post","link":"https:\/\/oncubanews.com\/en\/cuba\/economy\/cuban-economy\/marino-murillo-cuba-is-working-at-a-fast-pace-on-the-monetary-unification\/","title":{"rendered":"Marino Murillo: Cuba &#8220;is working at a fast pace&#8221; on the monetary unification"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Cuba &#8220;is working at a fast pace&#8221; to conclude a design for the monetary and exchange unification, <\/span><a href=\"http:\/\/www.cubadebate.cu\/especiales\/2018\/12\/16\/cuba-redefinira-el-proximo-ano-su-estructura-empresarial\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">affirmed<\/span><\/a><span style=\"font-weight: 400;\"> this Sunday Marino Murillo, former Minister of Economy and head of the committee for the implementation of the &#8220;Guidelines&#8221; approved by the Communist Party of Cuba (PCC) as a guide for the economic and social reforms on the Island.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Murillo, known as the &#8220;tsar of the reforms&#8221; and who is no longer a member of the <\/span><a href=\"https:\/\/oncubanews.com\/cuba\/asamblea-nacional-de-cuba-elige-nuevo-consejo-de-ministros\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Council of Ministers<\/span><\/a><span style=\"font-weight: 400;\">, confirmed during the sessions of the Economic Affairs Committee of the <\/span><a href=\"https:\/\/oncubanews.com\/tag\/asamblea-nacional-del-poder-popular\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">National Assembly<\/span><\/a><span style=\"font-weight: 400;\"> of Cuba that &#8220;in this process the CUC will be withdrawn [convertible peso equivalent to the dollar] and the Cuban peso (CUP) will remain,&#8221; although he did not advance any date for the conclusion of the process.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He affirmed that the elimination of the <\/span><a href=\"https:\/\/oncubanews.com\/cuba\/economia\/10-preguntas-urgentes-sobre-la-dualidad-monetaria-en-cuba\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">monetary duality<\/span><\/a><span style=\"font-weight: 400;\"> &#8211; a process announced since 2014 &#8211; is one of the &#8220;main problems to be resolved&#8221; on the Island, together with &#8220;the transformation of the population&#8217;s income system,&#8221; which includes the <\/span><a href=\"https:\/\/oncubanews.com\/cuba\/cuba-prepara-una-reforma-salarial-con-maxima-prioridad\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">wage reform<\/span><\/a><span style=\"font-weight: 400;\"> and the modification of retirement income and social assistance, and &#8220;resolutely facing the elimination or partial reduction of excessive subsidies and unnecessary gratuities.&#8221;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He said that &#8220;we are working integrally&#8221; on those problems and that &#8220;they will be resolved in due course.&#8221;<\/span><\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"J0tpbeNAEU\"><p><a href=\"https:\/\/oncubanews.com\/cuba\/economia\/cup-cuc-convertidores-y-moneda-total\/\">CUP, CUC, convertidores y moneda total<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"\u00abCUP, CUC, convertidores y moneda total\u00bb \u2014 OnCubaNews\" src=\"https:\/\/oncubanews.com\/cuba\/economia\/cup-cuc-convertidores-y-moneda-total\/embed\/#?secret=9pYBy5YON2#?secret=J0tpbeNAEU\" data-secret=\"J0tpbeNAEU\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p><span style=\"font-weight: 400;\">Murillo also announced that in the first quarter of next year Cuba\u2019s &#8220;current business structure&#8221; will be evaluated, in particular the situation of the Higher Organizations of Business Management (OSDE), about which he said they &#8220;have become &#8216;mini-ministries,&#8217; some hindering the independence of the companies and with excessive payrolls.&#8221;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He affirmed that the socialist state-owned company, which currently represents 86% of the budgetary income in Cuba, is &#8220;the main link&#8221; of the Cuban economy and he referred to &#8220;new approved policies,&#8221; among them the definition and creation of high-tech companies, the creation of a new OSDE for recycling, and the improvement of passenger transportation by private workers, one of the most controversial issues these days on the Island.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition, Murillo announced to the deputies that the new legal norms for non-agricultural cooperatives &#8220;are in the final phase of approval&#8221; and assured that the wholesale market for non-state workers &#8211; a systematic claim of the &#8220;self-employed&#8221; &#8211; &#8220;is not resolved, and there is no solution in the short term.&#8221;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8220;You cannot raise expectations regarding the wholesale market, because the first priority of the plan is to better supply the retail market,&#8221; he explained.<\/span><\/p>\n<p><a href=\"https:\/\/oncubanews.com\/cuba\/sector-privado-en-cuba-necesidad-de-edificar-consensos-para-parir-soluciones\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">New regulations<\/span><\/a><span style=\"font-weight: 400;\"> for autonomous work in Cuba came into force on December 7. The regulations were modified at the last minute to <\/span><a href=\"https:\/\/oncubanews.com\/cuba\/cuba-suaviza-nuevas-normas-de-trabajo-por-cuenta-propia\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">soften<\/span><\/a><span style=\"font-weight: 400;\"> some of its most controversial aspects and reverse others, such as the limitation to a single license per person or the restriction on the capacity of private restaurants or &#8220;paladares&#8221; to only 50 seats.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, the announced changes did not resolve other requests such as the wholesale market, whose absence forces the &#8220;self-employed&#8221; to buy their goods in the insufficiently stocked retail stores or on the black market.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cuba &#8220;is working at a fast pace&#8221; to conclude a design for the monetary and exchange unification, affirmed this Sunday Marino Murillo, former Minister of Economy and head of the committee for the implementation of the &#8220;Guidelines&#8221; approved by the Communist Party of Cuba (PCC) as a guide for the economic and social reforms on [&hellip;]<\/p>\n","protected":false},"author":3134,"featured_media":190780,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13904],"tags":[18287,14816,17983,17491,18286],"ppma_author":[33546,8689],"class_list":["post-190778","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cuban-economy","tag-autonomous-work-in-cuba","tag-cuban-economy","tag-cuban-market","tag-entrepreneurship-in-cuba","tag-monetary-unification-in-cuba"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Marino Murillo: Cuba &quot;is working at a fast pace&quot; on the monetary unification | OnCubaNews English<\/title>\n<meta name=\"description\" content=\"Marino Murillo, former Minister of Economy and head of the economic and social reforms on the Island, affirmed that Cuba is working at a fast pace to conclude a design for the monetary and exchange unification.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/oncubanews.com\/en\/cuba\/economy\/cuban-economy\/marino-murillo-cuba-is-working-at-a-fast-pace-on-the-monetary-unification\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Marino Murillo: Cuba &quot;is working at a fast pace&quot; 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