Discover ordinary pesos and convertible pesos (CUCs)

Cuba keeps a two-tier currency system, built to enforce a substantial taxation into the all the forex trading put towards country, whether or not by people, remittances otherwise business.

All forex must be translated during the CUCs. You dollars desire fees and you may fees of around 20%; almost every other currencies only 10%.

Now, more than ever, the commercial race ‘s the chief task while focusing of one’s ideological work of your cadres, due to the fact sustainability as well as the conservation in our societal program people through to so it work

There clearly was a system of special sites (“dollars sites”) attempting to sell all kinds of services and products at the greater pricing. Such stores capture simply convertible pesos.

This system is extremely unpopular which have men and women ordinary Cubans with no access to CUCs. The federal government have sworn to stop the brand new CUC and it has produced a tiny initiate this present year.

Eighty-eight per cent out of Cuban employees are used by condition. Just a dozen% operate in the personal market (personal producers, artists) – this may involve 142,one hundred thousand mind-working (lower than 3% out of full team).

An average salary inside Cuba is approximately $20 monthly. But not, there are not any taxation about this money, medical care and you can knowledge was free, anybody very own their houses otherwise pay an effective just an extremely brief rent to your county.

At the same time you have the libreta, the newest ration system. In place since the 1962, this new libreta allows individuals to invest in regarding list of first products within subsidised pricing.

But now the newest ration merely talks about approximately half the fresh new times. Also, in the last very long time it has been less.