Yesterday, Cuban President Miguel Díaz-Canel closed a National Assembly session, advocating for a new economic direction for Cuba.
He addressed 400 members, including Raúl Castro, stressing this could be a pivotal moment for the country’s economy.
Díaz-Canel highlighted the upcoming year’s challenges. These include intensified U.S. sanctions and global economic issues alongside Cuba’s own errors.
The president underscored the importance of properly executing discussed measures. He serves as the First Secretary of the Communist Party, adding weight to his words.
Díaz-Canel compared Cuba’s situation to being at war, due to the severe U.S. embargo. He promised that Cuba would not impose harsh economic policies on its citizens.
He also denied targeting nearly 10,000 new private businesses and confirmed the continuation of the subsidized ration system.
The president emphasized that creating wealth and fairly distributing resources is crucial for the measures’ success.
He acknowledged that no single action can solve all issues. He advocated for careful, varied implementation of each plan, ensuring adjustments and support where needed.
Earlier, Prime Minister Manuel Marrero spoke of a new program. This plan includes raising prices for fuel and electricity to stabilize the economy.
It aims to create a better environment for growth and socialist development. Alejandro Gil, the Vice Prime Minister, reported that the economy has shrunk this year.
He said it failed to meet the 3% growth target.
The Communist Party’s Central Committee recently announced plans to address Cuba’s economic imbalances.
This is in response to a deep three-year crisis. Currently, Cuba faces severe shortages of essential supplies due to the pandemic and the ongoing U.S. embargo.
This situation highlights the urgent need for the proposed economic changes.
More: Cuba news in English, every day from The Rio Times.
This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. The Rio Times also runs Ask Rio Times, which answers from 100,000+ of our own articles, the daily Latin America Power Map, and prediction-market odds on elections and markets.. How we use AI · Report an error
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