Cuba unveils sweeping economic reforms to expand private sector and tourism

Cuban President Miguel Diaz‑Canel announced a comprehensive package of economic reforms aimed at increasing private‑sector participation and revitalising the island’s tourism industry. The plan proposes lifting bans on certain private companies, allowing new investors into the tourism sector, restructuring the state apparatus, and amending agriculture policies. It also calls for reducing the number of ministries, encouraging renewable energy, and attracting foreign direct investment. The reforms are part of an Economic and Social Programme for 2026 that will be submitted to the National Assembly in July.

The announcements come amid heightened U.S. pressure, including recent sanctions on the state oil firm CUPET and broader economic embargoes that have caused fuel shortages and a severe economic crisis. Diaz‑Canel framed the measures as a response to “multidimensional aggression” from the United States and stressed the need for Cuba to adapt to current challenges while preserving social programs.