Cuban President Díaz‑Canel says reforms keep socialism intact

Cuba’s National Assembly approved a sweeping package of 176 economic measures. The reforms expand the autonomy of all 168 municipalities, giving them authority over strategic planning, trade, food security, local services and the ability to generate and retain foreign exchange. They also open space for private businesses with more than 100 employees, foreign direct investment, private banks, and a regulated digital currency market.

A separate axis of the package targets the digital sector, establishing a national data‑governance framework, promoting artificial‑intelligence research, and allowing private operators to run data‑centres, telecom networks and triple‑play services, though internet speed and power shortages remain serious challenges.

President Miguel Díaz‑Canel repeatedly stressed that the reforms are “technical, not ideological” and that Cuba will not return to capitalism or abandon its one‑party socialist system. He framed the changes as necessary to preserve socialism in the face of a severe economic crisis intensified by the U.S. embargo and recent U.S. policy pressure.

Analysts note the reforms echo aspects of Chinese and Vietnamese models, but are tailored to Cuba’s political context. Critics warn the limited market opening could increase inequality, while foreign investors remain cautious due to the lack of legal protections for private property.