Raul Castro backs sweeping Cuba reforms to revive struggling economy
Key takeaways
- Cuba's former president Raul Castro on Wednesday backed sweeping economic reforms proposed by the government to revive the crisis-hit economy amid a longstanding US embargo.
- The Cuban government has announced a series of fast-track reforms to open more sectors to private investment, attract more capital from Cubans living abroad and shrink the state.
- President Miguel Diaz-Canel has presented the measures -- some of which are set to be approved by the National Assembly on Thursday, just a week after being unveiled -- as the most substantial in years.
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Cuba's former president Raul Castro on Wednesday backed sweeping economic reforms proposed by the government to revive the crisis-hit economy amid a longstanding US embargo. The measures would expand private investment, attract capital from Cubans abroad and reduce the state's role, with lawmakers expected to approve key changes this week.
By: FRANCE 24 A poster on a street in Havana shows Fidel Castro, his brother Raul Castro, and Cuban President Miguel Díaz-Canel on May 20, 2026 © YAMIL LAGE, AFP Cuba's powerful ex-president Raul Castro on Wednesday threw his weight behind liberal reforms aimed at reviving the collapsing economy in the face of a crippling US blockade.
The Cuban government has announced a series of fast-track reforms to open more sectors to private investment, attract more capital from Cubans living abroad and shrink the state.