Cuba's government has announced a significant increase in fuel prices, with the hike exceeding 500%. This decision is part of a series of economic measures aimed at reducing the deficit and tackling the worst economic crisis in decades. The plan also includes cuts on ration card food subsidies and further restrictions on small and medium private businesses. The move comes amid the end of state subsidies and a macroeconomic adjustment plan to address the large fiscal deficit. The decision has sparked discussions about the impact of communism and socialism on the country's economy, with critics highlighting the harsh austerity measures compared to other leftist regimes. The fuel price hike is set to take effect on February 1, and it is expected to have a significant impact on the population, with the increase surpassing the average monthly salary.
Cuba's COMMUNIST gov’t in BANKRUPT. One casualty = the end of its fuel subsidies After Feb 1, fuel prices will increase by 500% -- ~1.4x greater than the avg. monthly salary. https://t.co/KX09mOWMYJ
What irony! #Cuba's leftist regime has announced an austerity package that's harsher than #Argentina's. But the leftist leaders of Venezuela, Mexico, Colombia,etc. criticize Argentina's plan, while remaining silent about Cuba's. Read more at https://t.co/I0GqoUeNa0 miamiherald
Cuba announces 500% increase in fuel prices https://t.co/NkvN4giYfw
Cubans Prepare for 500% Fuel Price Hike Amid Economic Crisis for all you socialists and communists out there. This is the reality when you run out of OPM https://t.co/hX4gfKSxJj
Amid the worst economic crisis in decades, #Cuba announced an austerity plan that includes cuts on ration card food subsidies and a 528% hike in the price of gas. The measures will be paired with further restrictions on small and medium private businesses. https://t.co/4NtOFH2ehE
Caribbean nation to hike fuel prices by 500% Cuba will end state subsidies to tackle the economic crisis it blames on the US embargo https://t.co/Jybdtgyusp https://t.co/RdV5c7igcF
Cubans brace for impact as gasoline prices set to soar https://t.co/6cPJBV40t7 https://t.co/HfXLSCR6eI
Fuel will increase more than 500% starting Feb 1, as part of one of Cuba’s 🇨🇺 largest macroeconomic adjustment plans in decades to reduce the large fiscal deficit, with increases in public services and the end of food subsidies. Communism failed, again. https://t.co/vrImjQJy6e
Cuba to increase price of fuel by more than 500% https://t.co/4K8JC6TmmP
NEW: Budget-crunched Cuba to hike fuel prices over 500 percent https://t.co/edfTY2F9zI
Significant fuel and electricity price hikes announced by Cuba's government https://t.co/UyCGsayttc https://t.co/xFNKtMSGJz
#Cuba’s cash-strapped government has announced that #fuel prices will soar by more than 500 percent, part of a series of economic measures aimed at reducing the deficit. https://t.co/TEYMYcoHw9
Budget-crunched Cuba to hike fuel prices over 500 percent https://t.co/nvLUnzQBD3