Food production, a priority in Cuba’s economy

Havana, Oct 12 (Prensa Latina) Food production and commercialization is the key link to Cuba's development, Minister of Economy and Planning Alejandro Gil said on Monday.

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Por: PRENSA LATINA

12 October , 2020 | 19:59

Speaking on the Mesa Redonda (Round Table) radio and television program, the minister mentioned major aspects as incentives to increase production in small industries to achieve municipal self-supply. The purpose is to meet the food demand with local resources, so decisions and plans are made in that sphere.

Gil noted that sales of agricultural inputs in freely convertible currencies have started in Havana, Villa Clara and Santiago de Cuba. The measure responds to financial shortages for imports.

However, it is necessary to produce more, the minister noted. Therefore, one of the mechanisms is to sell inputs and it will be expanded to more provinces and more products, even tractors and other necessary pieces of equipment.

At the same time, conditions have been created so that the productive base (farmers) can export their products, sell them to the Mariel Special Development Zone (ZEDM) or abroad.

Gil added that the project has just started and sales have been made.

The objective is to use that same currency that is recovered and inject it in the country’s market and productive spheres.

The deputy prime minister defended the need to take audacious measures to boost Cuba’s development.

The minister explained that Cuba will establish the Bank of Agricultural Development (Banco de Fomento Agricola), which will work as part of the structure created by Banco de Credito y Comercio (Bandec).

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