- Cuba has reduced ministries from 27 to 21 for efficiency.
- Municipalities are now approving businesses and manage foreign-currency revenue.
- State companies design pay systems and enter private partnerships.
- Businesses import and export directly without state intermediaries.
- Reforms phase out subsidies and move to market pricing.
Cuba has approved an emergency economic package with free-market measures. The Communist Party introduced changes that decentralise the state-run economy and reduce the number of ministries from 27 to 21. Municipalities gain authority to approve businesses and manage foreign-currency revenue.
State-owned companies receive autonomy to set pay systems, distribute profits and form partnerships with private entities. The reforms phase out subsidies and allow direct import and export by businesses. Officials drew on economic models from China and Vietnam.
The measures follow pressure from the United States including sanctions.
Gihana Galindo shared “These reforms mark a milestone that allows our industry to be more sustainable, autonomous, and resilient.”
