Cuban small business allowed to expand in major economic reform

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Council of ministers hopes move will encourage recovery from pandemic-induced stagnation

In a major reform of the state-dominated economy, the Cuban government will allow small private businesses to operate in most fields, eliminating its limited list of activities, state-run media reported on Saturday.

Reform-minded Cuban economists have long called for the role of small business to be expanded to help jump-start the economy and to create jobs. The crisis has forced a series of long promised but stalled reforms, from devaluation of the peso and reorganization of the monetary system to some deregulation of state businesses and foreign investment.

He said the measures would include “the improvement of the non-state sector, with immediate priority in the expansion of self-employment and removal of obstacles.”

 

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