Economists propose a “working guide” for Cuban ministries
The Cuban president emphasized the ongoing need for the process of "socialist construction" to undergo a political-economic analysis.
The National Association of Economists and Accountants of Cuba (ANEC) held its ninth Congress on June 12 and 13, 2025. Previously, the meeting had been postponed twice due to the country’s complex economic situation, according to outgoing National President Oscar Luis Hung Pentón.
At the government’s request, ANEC submitted a document proposing ways to better address the country’s economic challenges. However, comments from the Cuban president, who emphasized the importance of understanding the social context, suggest that the document is seen as only a working guide.
ANEC’s recommendations are issued at the request of Cuba’s Minister of Economy and Planning, Joaquín Alonso, who asked economists to suggest ideas that could help the Cuban government move forward more quickly and efficiently with its economic reform program and restore GDP growth. However, during the closing session of the ninth ANEC Congress, President Díaz-Canel described the report’s content as merely “interesting proposals,” characterizing the document as “a working guide… to support the Government Program to correct distortions and boost the economy.”
In his remarks, he instead aimed to highlight the importance of members of the organization viewing economics more broadly as a social science. He argued that comprehensive solutions require a social perspective, noting that in Cuba, “many implemented proposals have not achieved the expected results due to the lack of proper social analysis.” The Cuban president emphasized the importance of involving students in the nation’s economic and social processes.
In response to Cuban economists who believe a more liberal, less prescriptive, and less bureaucratic economic approach is needed to transform the country’s socialist economy, the Cuban president emphasized the ongoing need for the process of “socialist construction” to undergo a political-economic analysis. He affirmed that this approach “allows us to move forward without compromising the social ideal,” and recognizes that Cuba is “in a complex situation that requires a careful and strategic approach.”
Díaz-Canel was also quoted as saying that the congress had contributed important ideas and urged all ministers to include an analysis of the ANEC document “in their governing councils and to leverage what should be promoted.”
Although no details of the recommendations were published, Cubadebate reported that the meeting produced 45 proposals “after a thorough analysis of the country’s current situation.” The official publication described the discussions during the two-day meeting as “heated” at times.
It reported that the topics discussed by ANEC members included macroeconomic stabilization, the recovery of external revenues from exports, external debt management, and fiscal and tax policies. Also examined were budget deficit reduction, banking and exchange rate policies, along with changes in resource allocation mechanisms and the creation of a foreign exchange market.
At the conclusion of the two-day meeting, members of ANEC’s National Executive Council emphasized that the organization aims to fully participate in national and local economic decision-making processes in the future. They stated that it now plans to improve its communications “to ensure that members’ concerns and proposals are heard and considered in decision-making.”
In a seemingly positive reflection on this aspect of the Association’s thinking, the Cuban President noted that the composition of Cuba’s technical advisory councils should be reviewed and that ANEC members should be included “since progress can be made more quickly if this expert knowledge is taken into account.” “We find ourselves in a complex situation that requires a careful and strategic approach,” the Cuban president stated.
According to official reports, Silvia Odriozola, dean of the Faculty of Economics at the University of Havana, stated at the meeting that increased involvement of economists in policy design is needed. However, she argued, this support must be effective, providing opportunities for proper feedback on the proposals and their implementation or rejection. Noting that the economy operates as an interconnected system, where any action can completely change it, she emphasized the need for a systemic approach to decision-making.
During the first day of debate, participating economists highlighted the small number of MSMEs with qualified accountants, the need to better understand the economy to avoid mistakes, the lack of solutions within the timeframe required by the population, the need to rethink decision-making methods, the possibility that the Cuban economy could show signs of stagflation, the disparities in the exchange rate that hinder progress toward effective economic policies, and the importance of recognizing that economics is a social science with a direct impact on people’s lives.
In his speech, Cuban Minister of Economy and Planning Joaquín Alonso highlighted that the economic blockade is still the main obstacle to Cuban development, costing approximately $6 billion each year.
He warned: “Currently, there are three exchange rates in the economy, which causes dislocation among economic actors. Therefore, the dollar has become a mechanism of interconnection, leading to a partial dollarization of the economy.”
In the tourism sector, the minister admitted that the planned goals will not be met due to a “very poor first quarter.” Meanwhile, in the energy sector, he reported progress in recovering the National Electricity System (SEN): 158 MW of thermal generation rehabilitated and 330 MW of distributed generation, with four solar farms expected to come online in June and five in July, on track to reach the 1,000 MW projected for 2025. He revealed that thermal generation only covers 86% of what was planned—due to breakdowns and fuel shortages—while solar generation exceeded expectations by 125%.
To correct these exchange rate distortions, it is essential to tie rates to currencies. We have no choice but to move towards partial dollarization, even though the ultimate goal is de-dollarization. We reaffirm this,” he emphasized.
More generally, the ANEC Congress officially agreed on the need to enhance accounting and cost management by establishing a certification program, creating an official registry for accountants, and developing related proposals to submit to the Council of Ministers and the Minister of Finance and Prices. Participants also agreed to promote the development of digital platforms to make access to relevant information and tools easier, enabling members to interact, collaborate on joint projects, and attract younger members. They also expressed concern about the negative impact on national economic growth caused by the exodus of professionals to private MSMEs.
At the meeting, a new National Executive Council was elected, chaired by José Carlos del Toro Ríos, Director of Financial and Accounting Research at the Ministry of Finance and Prices, and appointed as First Vice President by Dr. Ayuban Gutiérrez Quintanilla, Head of the Department of Economic Development at the Faculty of Economics at the University of Havana.
