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Economic crisis in Cuba, 400% increases in petrol - World Motors

2024-03-02T15:34:05.617Z

Highlights: Economic crisis in Cuba, 400% increases in petrol - World Motors. Starting today, petrol will cost 400% more on the island. In 2023 the country's economy contracted between 1 and 2% and inflation reached 30% per year. In recent days, the Cuban government has asked for help from the UN World Food Program (WFP) for the first time due to the impossibility of providing milk for children from zero to seven years old, obtaining the emergency shipment of 144 tons of milk in powder.


The Cuban government has approved the increase in the price of fuel at the pump and other essential services. Starting today, petrol will cost 400% more on the island. (HANDLE)


The Cuban government has approved the increase in the price of fuel at the pump and other essential services.

Starting today, petrol will cost 400% more on the island.

The Ministry of Finance and Prices reports that the adjustments aim to "rectify a set of distortions present in the economy".

The authorities have indicated that the adjustments are necessary due to the global increase in fuel prices and the difficulties in obtaining them.

The price of the electricity tariff for large consumers and for medium and long-distance transport tickets, both buses and trains, has also been increased, while the prices of cooking gas (in cylinders) have been postponed for the time being.

The price adjustment takes place in an already very difficult period for the population due to the serious economic crisis.

In 2023 the country's economy contracted between 1 and 2% and inflation reached 30% per year.

In recent days, the Cuban government has asked for help from the UN World Food Program (WFP) for the first time due to the impossibility of providing milk for children from zero to seven years old, obtaining the emergency shipment of 144 tons of milk in powder.

Previously the authorities had announced that they had stocks necessary to guarantee the production of 700 tonnes of bread aimed at low-income groups until the end of March alone.


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Source: ansa

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