Raul Castro backs sweeping Cuba reforms to revive struggling economy
The plan would expand private business, open tourism to diaspora investors and cut ministries from 27 to 20, officials said.
- On Wednesday, the Communist Party of Cuba convened an extraordinary plenary session to debate an economic reform package aimed at opening up the struggling island's economy.
- The island grapples with a deepening economic crisis intensified by an energy blockade enacted under President Donald Trump, which continues to disproportionately affect the most vulnerable.
- President Miguel noted that parliament is considering a law to downsize the state, slashing the number of ministries from 27 to 20 while expanding authorizations for private companies first legalized five years ago.
- In a surprise move, the National Assembly was convened for Thursday to follow up on the party meeting and address the island's economic model.
- Reforms will allow Cubans living on the island and abroad to invest in tourism, potentially addressing severe shortages of water and medicine affecting nearly 10 million residents.
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54 Articles
The reforms arise in a context of pressure on the island, which has been subjected to an oil embargo by the US for about five months, which has caused energy cuts and food shortages.
The measures provide for the opening of more sectors to private investment and a reduction in the size of the State.
Central Committee decides on changes to facilitate investment by foreign Cubans. The National Assembly still has to agree.
The highest authority of the Cuban Communist Party (PCC) approved on Wednesday a package of reforms aimed at a stronger orientation towards the market economy, at a time when the island, under pressure from Washington, is experiencing an extremely serious economic crisis, reports AFP.
In the face of a critical economic situation and American pressure, the Cuban Communist Party has approved a package of measures aimed at further liberalizing the market.
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