Cuba's Communist Party approves free-market economic reforms amid US pressure campaign
By
Al Jazeera
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Summary
Cuba's Communist Party has approved an unprecedented emergency economic package that includes free-market measures such as expanding private enterprise opportunities, attracting foreign investment (including from Cubans abroad), enabling private real estate development, and transforming state-owned businesses into private commercial ventures. The package was submitted to the National Assembly and is expected to pass, coming amid ongoing US pressure campaigns that have left Cuba's economy reeling.
Key quotes
· 3 pulledCuba's Communist Party has approved a raft of unprecedented free-market measures as part of an emergency economic package.
The plan would expand opportunities for private enterprise and create measures to attract additional foreign investment, including from Cubans abroad.
It could also set the stage for private real estate development on the Caribbean island and the transformation of state-owned businesses into private commercial ventures.
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