Raul Castro Announces Economic Reforms In Cuba
Raul Castro, President of the Cuban Council of State, says Cuba will begin less government control of small businesses. Speaking before parliament, with brother Fidel absent, Castro said the government…
…will scale back controls on small businesses, lay off unnecessary workers and allow more self-employment – significant steps in a country where the state dominates nearly every facet of the economy.
Cuba’s president, however, squashed notions of a sweeping overhaul to the country’s communist economic system in response to the financial crisis it faces.
“With experience accumulated in more than 55 years of revolutionary struggle, it doesn’t seem like we’re doing too badly, nor that desperation or frustration have been our companions along the way,” the president said.
Castro said authorities will “update” the economic model.
Cuban officials plan to reduce state control of small businesses, authorize more Cubans to become self-employed and build a new tax structure that will compel state employees to contribute more.Click here for reuse options!
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