CUBA INTRODUCES SWEEPING FREE-MARKET REFORMS TO DECENTRALIZE STATE-RUN ECONOMY. (PHOTO).
Cuba introduces sweeping free-market reforms to decentralize state-run economy Cuba has introduced a package of 176 free-market measures, which observers are calling the most sweeping economic overhaul of the island’s communist system since the Cuban Revolution. The aggressive policy shift aims to decentralize a state-run economy that has been heavily strained by a tightened U.S. embargo. Historically, the Cuban government has strictly controlled production, distribution, resource allocation, and pricing across the island. The newly approved plan radically dismantles long-standing pillars of the revolutionary economy, including the state’s monopoly on foreign trade and the strict centralization of productive forces. The reforms grant significantly more autonomy to private businesses, allow direct imports and exports without state middlemen, permit the free hiring of personnel, authorize private banking, and open the door for financial investments from Cubans living ab...

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