International experts estimate inflation in Cuba at 740% this year

Economist Intelligence Unit (EIU) Downward calculated Cuba’s economic growth estimates In 2021 and 2022, it makes them 0.1% and 3.4%, respectively. And increased Inflation assessment Almost 740% this year.

EIU, part of The Economist Group, specializes in forecasting, consulting and analysis.

Cuba’s GDP stagnation (0.1%) by 2021 is lower than the EIU’s official estimate of 2%, Said Cuban economist Pedro Montreal 739.6% inflation recalculation for 2021 is higher than previously thought 424% inflation.

Thus, estimated Swelling This will increase to 88.8% in Cuba until 2022. The Economist Intelligence Unit forecast that “the probability that the authorities will fail to manage the displacement derived from the integration of the double exchange rate is considered” very high, “Monreal said. Thread on his Twitter account.

To Montreal, Inflation is the data that best integrates the failure of the “monetary order” – in many dimensions. It was carried out by the Cuban government in January this year.

“Comparing it or hiding behind the ‘problem’ indicates a lack of self-criticism and the hope of avoiding reasonable analysis,” the Cuban expert said. Another post.

“Economists who previously participated in the debate do not want to take it too seriously now Superficially heard about inflationThey do this so as not to contribute to the spread of contradictory discourse that seeks to impose itself in the form of propaganda, ”he added.

In Cuba, there has been a slanderous rise in prices following a protracted shortage of Cubans.

Cuba’s Minister of Economy and Planning, Alejandro Gill Fernandez, said this during the recently closed sessions of the National Assembly of People’s Power (ANPP). Raising wages would be a populist move that would only contribute to higher inflation, In an intervention he presented the government’s arguments about the “causes and behavior” of the event on the island and the “alternatives” to prevent it.

Gill Fernandez said inflation was 44.1% in January, up from 69.5% in November, with sustained growth to date., 9.5 percentage points above the design (depending on the design it should reach 60%).

“It really affects the purchasing power of wages and pensions,” he admitted. He said the index would end the year above the 70% inflation index.

In this sense, he argued, “raising wages would lead to higher inflation, which would be a populist move and should not be tempted to solve the situation by increasing revenues without productive support.”

According to the Deputy Minister, By 2022, one of the objectives of the Economy Plan is to move towards a macroeconomic stabilization process in reclaiming the role of the Cuban peso as the center of the financial system and in the rationale for prices..