LatinNews Daily - 06 July 2026

*Cuba’s labour minister, Jesús Otaméndiz Hernández, has announced that the national minimum wage will rise from CUP2,100 (U$84) per month to CUP3,210. He also said the changes would cost the state CUP42.5bn. The announcement comes as the government recently unveiled a sweeping economic reform package as part of efforts to appease the US government led by President Donald Trump which is applying a maximum pressure campaign on the island, to force its economic and political opening. The salary rise comes as inflation in May was up 15.89% year-on-year and 1.85% in monthly terms. Also on 3 July, Otaméndiz announced changes to pension rules, such as the elimination of a cap on pension contributions by private sector workers, allowing them to contribute more to the social security system and so access higher pensions further down the line. He also announced a modification which allows individuals working in both the public and private sector to make social security contributions under both regimes.

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