Cuba’s 2019 Budget Gives Priority to Social Spending

Havana, Dec 21 (Prensa Latina) Cuba will allot 51 percent of the 2019 State Budget to provide for public policies, announced Friday the Minister of Finance and Prices, Lina Pedraza.

Pedraza explained at the National Assembly that the largest expenses are focused on sustaining health, education and social assistance, whose services are free, also includes the subsidy to poor people for purchasing construction materials.

More than 10,662 billion pesos (444,250,000 dollars), equivalent to 27.5 percent of the budget, are destined for Public Health and Social Assistance to guarantee quality and free care to the entire population, she stressed.

According to the Minister, 9.167 billion pesos (402,916,666 dollars), or 23.7 per cent of the budget, are allocated to education and 6.67 billion pesos (277,916,666 dollars), equal to 17.2 per cent of all the spending, to social security programs.

Pedraza also said that the draft provides funding for the recovery of property damaged by weather events and programs aimed at caring for the elderly.

The document presented to the House of Representatives includes current expenses for the activity budgeted at 38,711 billion pesos.

Pedraza, before reading the project, summarized the execution of the state budget in 2018, and cited among its priorities the implementation and continuity of social policies, recovery after Hurricane Irma in September 2017 and subtropical storm Alberto in May and June 2018.

This entry was posted in Uncategorized. Bookmark the permalink.