image : twitter

Havana, January 11, 2024, Thursday

One more Country of the world has fallen into economic crisis and scenes like Sri Lanka are being seen there too.

Inflation is at its peak in America's neighbor Cuba and fuel prices have increased fivefold. The new prices are to be implemented from February 1. After the government's announcement, long lines are being seen at Petrol pumps in Cuba.

Currently, the price of one liter of regular petrol in Cube is 25 pesos or 8.58 rupees. After the new decision, the price will increase to 132 pesos ie 457.15 rupees. While the price of premium petrol is 30 pesos i.e. 103.9 rupees per liter. Which will increase to 540 rupees.

The Cuban government has also increased the price of diesel by five times. While electricity rates have been increased by 25 percent. As a result of which there has been an uproar in the country.

Cuba's Finance Minister Vladimir Regero has said that the government will open 29 new petrol pumps. which will accept payment in US dollars. Due to the action of the government, the cash crisis in the country will be reduced.

The government says that Covid and the severe economic sanctions implemented by America are responsible for the economic condition of Cuba. Due to the kind of emergency in the country, now the government cannot afford to give subsidy on petrol and diesel. Petrol is cheap in Cuba right now. Although it can be called expensive compared to the income of the people of the country, now it is not possible for the government to sell petrol and diesel at this price.

Cuba has been going through an economic crisis for the past four years. The country, which is largely dependent on imports, is facing shortages of food, medicine and other essential items.