By Zoila Palma: Cuba’s Communist Party has approved a sweeping package of economic and social reforms aimed at expanding the role of private capital and market mechanisms as the country confronts its most severe economic crisis in decades.
According to media reports, the Communist Party’s Central Committee approved 176 reform proposals across 23 areas during an extraordinary plenary session held on Wednesday. The measures are intended to address current economic difficulties while supporting long-term growth and development.
The reforms cover a wide range of sectors, including economic planning, agriculture, labor and wage policies, energy, foreign investment, foreign trade, tourism, transportation, taxation, banking, and finance. The package also includes initiatives related to digital transformation, artificial intelligence, the knowledge economy, statistics, and regulatory oversight. State media reported that the measures would reshape the country’s business structure, create greater opportunities for private capital, and recognize market mechanisms as tools for improving the allocation of resources.
Cuban officials stressed that the reforms do not represent a departure from the country’s socialist model and remain consistent with the constitution. However, they acknowledged that implementation will require legislative changes, including amendments to existing regulations and the adoption of new laws.
President Miguel Díaz-Canel said the country’s current circumstances require urgent action, calling for a deep and agile economic agenda focused on macroeconomic stabilization, increased production, investment promotion, technological advancement, and targeted social protection.
The post International News: Cuba approves major Economic reforms to ease economic crisis appeared first on Belize News and Opinion on www.breakingbelizenews.com.
By Zoila Palma: Cuba’s Communist Party has approved a sweeping package of economic and social reforms aimed at expanding the role of private capital and market mechanisms as the country confronts its most severe economic crisis in decades. According to media reports, the Communist Party’s Central Committee approved 176 reform proposals across 23 areas during
The post International News: Cuba approves major Economic reforms to ease economic crisis appeared first on Belize News and Opinion on www.breakingbelizenews.com.
