SELF-EMPLOYMENT IN CUBA

Cuban economy will be benefited to a great extent with the opening of more than 2,000 non-state activities »

These regulations, which will come into force next December 7th, are endorsed in six higher-ranking regulations, five decree-laws, a decree and 14 complementary resolutions»

The second in charge of the Permanent Commission for Implementation and Development of Cuba, Yovana Vega, highlighted today the need to consolidate the self-employment or private sector»

Self-employment, or private work by an individual or group of persons, is now an element of the Cuban economy, and the Council of Ministers is looking into its results and ways to improve it, the official Granma newspaper reported»

The emerging Cuban self-employed sector will have access to loans up to 10 thousand Cuban pesos to be granted by the Banco Popular de Ahorro (BPA).»

Private business in Cuba have hired a total of 100 thousand 448 employees up to last September, which is in tune with the promotion of the new non-state employment modality.»

Over 9 000 new jobs have been created in Sancti Spiritus since 2010.»

Since December 2011 banks in Cuba offer the option of loans to self-employed persons to invest in working capital (payment of raw materials, supplies, salaries) and business-related funds (construction of places, and buying means for works) .»

Some 18 700 local residents are registered as non-state workers»

The Central Bank of Cuba (BCC) has taken measures to grant loans to non-state workers, in the context of the update of the country’s economic and social model.»