Cuba has a-two-level money system, built to impose a hefty tax toward all the foreign currency lead to your nation, if by travelers, remittances otherwise team.
All the foreign exchange has to be translated into the CUCs. United states dollars notice charges and you can taxation of around 20%; other currencies simply 10%.
There was a network away from special shops (“dollars shop”) promoting a myriad of services and products in the greater cost. These places bring merely convertible pesos.
This system is extremely unpopular having those ordinary Cubans who have zero use of CUCs. The government enjoys sworn to stop the newest CUC and also made a little initiate this season.
Eighty-seven per cent from Cuban workers are utilized by county. Only a dozen% operate in the non-public industry (individual farmers, artists) – this may involve 142,100 thinking-functioning (lower than 3% of complete team).
While doing so you have the libreta, the ration system. In place because 1962, this new libreta lets men and women buying away from set of basic products at the subsidised pricing.
But now the fresh new ration merely discusses about half the brand new month. Furthermore, in the last lifetime this has been less. For example, history November carrots and you may peas had been taken off the brand new libreta. In earlier times Cubans you are going to get cuatro weight out of potatoes a month at the on 1 cent for each and every lb. Now they are able to buy around that they like however, on 5 cents per lb.
The federal government just cannot manage to contain the libreta going given that ahead of as there are even cam out-of phasing it out totally.
The web based results of useless earnings and you can pensions additionally the ineffective libreta would be the fact most people are forced to supplement their earnings with various types of activities. Continue lendo “You will find normal pesos and you will convertible pesos (CUCs)”