Wage reform in Cuba, necessary in economic strategy
Wage reform in Cuba, necessary in economic strategy
Havana, Dec 31 (Prensa Latina) To fulfill the economic and social strategy and advance the development plan until 2030 in Cuba, a wage reform was necessary, process present today in the monetary system.
The main objective of this increase in workers income is to stimulate interest in work as a source of wealth generation, for which there is already an increase in job applications in the country.
As the Minister of Labor and Social Security, Marta Elena Feito, explained the day before, some 15 thousand people applied for employment in Cuba prior to the entry into force on January 1 of the ordering task.
Cuban workers receive advanced payment
Cuban workers receive advanced payment
23 de diciembre de 2020, 17:29Havana, Dec 23 (Prensa Latina) Cuban workers are receiving an advanced payment, starting on Wednesday, to afford higher prices predicted as of January 1, as part of the monetary overhaul in the country. According to Marino Murillo, head of the Commission for the Implementation of the Guidelines of the Communist Party of Cuba, the 1,000-peso advanced payment will allow workers to acquire goods and services at higher prices.
Murillo clarified on his Twitter account on Wednesday that workers will receive in January the other part of their wages, which will go up to over 2,100 pesos.
Cuban pensioners begin to receive an advance of their pensions
Cuban pensioners begin to receive an advance of their pensions
Havana, Dec 17 (Prensa Latina) About 1,700,000 Cuban pensioners as of Thursday begin to receive an advance on their pensions, which will be increased as part of the new monetary order that will come into effect on January 1.
With the elimination of the monetary and exchange duality, there will be a devaluation of the Cuban peso (CUP) that will have an impact on the rise in prices of goods and services, something that will be supported by the increase in people s incomes. In order to reach January with sufficient funds to assume the hike in prices, the Cuban government decided to advance 1,000 pesos of the total pensions and a week later, workers from all sectors and those who receive social security assistance will also receive this amount. After 2021 begins, minimum wages will increase to 2,100 pesos, while those above the minimum will rise according to a
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