Cuban President Miguel Díaz-Canel announced the largest package of reforms across several key sectors of Cuba in the last 15 years.

Some of the strategic areas covered by the reforms include agriculture, investment, public and private enterprise, and energy.

According to Díaz-Canel, “the purpose of these reforms is to provide Cuba with the tools to face one of its most difficult moments, when it not only faces the economic embargo imposed by the United States since the 1960s but also increasing pressures that include restrictions on its fuel supply, sanctions on key sectors on the island, and a formal indictment against former President Raúl Castro.”

Among the changes Cubans can expect in the private sector are the creation of micro, small, and medium-sized enterprises (MSMEs), private banking entities, and currency exchange houses.

In addition, there will be openings to foreign investment, efforts to strengthen the capacity of state-owned enterprises to create wage models, and the facilitation of technology imports, among other measures.

Díaz-Canel indicated that Cuba is ready not only to resist the sanctions but also to produce, transform, and prosper.

M.Pino

Source: cnnespanol

(Reference image source: Alexander Kunze on Unsplash)

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