Oscar Espinosa Chepe / CubaNet
HAVANA, October - The Cuban peso fell to 23 to the dollar October 8,
confirming a downward tendency that had been evident for some months. The peso
had not traded this low since the end of 1997.
There are other indicators that point to worsening conditions in the living
standard on the island. Recently there have been increasing blackouts, and
obtaining some basic items have been problematic. Eggs have been scarce since
August, and last month, only ¾ pound of chicken was sold to each person
instead of the pound stipulated by the ration book.
The average salary, 247 pesos, is now equivalent to 10.74 dollars a month,
although some who work in industries considered "strategic," also
receive small stipends in convertible pesos, that are good in the island's
dollar economy.
Little more than 25% of Cuban workers, however, are included in that system,
and they don't always meet the conditions for the dollar-denominated
incentives, such as productivity, which may depend on the timely availability of
materials or supplies and not on the workers themselves.
With the dollar-denominated incentives, the average salary rises to 349
pesos, or 15.17 dollars a month, according to a report rendered by the minister
of the economy to the Popular Power Assembly (Cuba's parliament) in December
2000.
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