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[POLITICS] · Cuba, United States · 78 sources

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Cuba approves sweeping 176‑measure economic reform package

Cuban President Miguel Díaz‑Canel and Prime Minister Manuel Marrero presented a 176‑item package aimed at liberalising the island’s economy. The measures would allow private banks, permit entrepreneurs to own multiple firms and employ more than 100 workers, open the real‑estate market, grant foreign investors and the Cuban diaspora the right to invest on equal terms, and give municipalities greater autonomy. Reforms also target agriculture, tourism, subsidy restructuring and the creation of mixed‑ownership enterprises.

The package was endorsed by the Communist Party’s Central Committee, with former leader Raúl Castro expressing support, and is expected to be ratified by the National Assembly. Officials framed the changes as urgent responses to a deepening crisis exacerbated by intensified U.S. sanctions and a fuel blockade, while insisting the reforms do not abandon socialism but are essential for its preservation.

International pressure, chiefly from the United States, is cited as a catalyst, but Cuban leaders also highlighted internal obstacles such as bureaucracy and delayed decision‑making. The reforms signal the most extensive shift in Cuba’s economic model since the 1959 revolution.

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