Cuban Government Proposes Strategic Economic Transformations

Cuba's Prime Minister Manuel Marrero affirmed today that the country faces its most complex moment since the Special Period and announced economic transformations to preserve socialism.

During the Third Extraordinary Session of the National Assembly of People's Power, Marrero explained that the interruption of fuel supplies and the loss of foreign currency income sources have impacted the deterioration of energy infrastructure and the population's quality of life.

"We have never denied our own errors and shortcomings. However, this set of factors has persistently influenced the effective implementation of transformations to our economic model," the head of Government stated.

The proposed transformations include expanding the participation of all economic actors on equal terms, promoting foreign investment, and admitting market mechanisms as resource allocation instruments.

Marrero emphasized that these measures do not constitute "a surrender, but rather the sovereign exercise of adapting development instruments to the concrete circumstances the country is experiencing."

The Prime Minister recalled that the leader of the Revolution, Raúl Castro, in guiding the process of updating the economic model, established the premise of "not being dogmatic or immobilist, banishing the mechanical association between socialism and egalitarianism, and recognizing that socialist planning does not exclude, but rather must incorporate and regulate the rules of the market."

The new transformations consist of 176 proposals, grouped into 23 fundamental areas of the nation's economic and social life.