Raul Castro backs sweeping Cuba reforms to revive struggling economy
The package would let Cubans abroad invest in tourism and give state firms more freedom to partner with private companies.
- 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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77 Articles
Manuel Marrero, Cuba's Prime Minister, presented his economic reform plans to parliament on Thursday. The aim is to move the country further towards a free-market economy, among other things by privatizing state-owned enterprises and allowing foreign investment.
Havana, Cuba. Cuban Prime Minister Manuel Marrero presented to Parliament this Thursday a broad program of reforms in favor of the market economy, an unprecedented turn for the communist island plunged into a deep economic crisis, under pressure from Washington.Marrero presented 176 proposals for reforms that cover many sectors of the economy and that will have to be approved, after debate, by the deputies of the National Assembly of People's Po…
Cuban PM floats sweeping reforms to privatize vast swath of economy
Cuba's prime minister on Thursday presented lawmakers with sweeping reforms backed by the Communist Party and former leader Raúl Castro that would privatize a vast swath of its socialist economy in a bid to survive punishing U.S. sanctions.
In the face of the massive economic crisis in Cuba, the ruling Communist Party presented a comprehensive package of more than 170 market-economy reforms.On Thursday, Cuban Prime Minister Manuel Marrero presented the 176 reforms, including banking, wages, corporate structures, foreign investment and agriculture, in a two-hour speech to the Cuban National Assembly.The reforms mainly concern the private sector in Cuba. For the first time, private c…
BT
Kristeligt DagbladCuba's government will introduce the biggest reforms since Castro's revolution in an attempt to survive pressure from the United States.
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