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🇨🇺 Cuba’s National Assembly unanimously approved more than 175 economic reforms that would mark the largest shift away from the island’s state-dominated socialist model since the 1959 revolution.
The measures would allow private banks, private real estate development, businesses with more than 100 employees, ownership of multiple companies, and the sale of state-owned property to both Cubans and foreign investors.
President Miguel Díaz-Canel said Cuba was “not renouncing socialism” and the moves were not related to negotiations with the U.S. He said the reforms would be “beneficial” to the country amid decades of U.S. sanctions and a recent U.S. oil blockade that has pushed Cuba’s economy deeper into crisis.
Source: Reuters
Reuters@Reuters
Cuban lawmakers unanimously approved sweeping reforms backed by the Communist Party and former leader Raul Castro that would privatize a vast swath of the country's socialist economy in a bid to survive punishing US sanctions reut.rs/4fVrYe2
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