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Cuba approves economic reforms to boost private sector, investment: state TV
Key takeaways
- Earlier, the government-led reforms won the backing of influential former president Raul Castro.
- The Cuban government’s series of reforms are fast-track measures for desperate times, as the country grapples with widespread shortages of basic needs.
- President Miguel Diaz-Canel presented the measures as the most substantial in years.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize HAVANA: The Cuban Communist Party on Wednesday approved a package of reforms aimed at opening up more sectors to private investment as the island, under pressure from Washington, undergoes a major economic crisis.
State television reported “the party’s Central Committee approves the new proposals for economic and social transformations,” which include attracting more capital from Cubans abroad and reducing the size of the state, after an extraordinary plenary session wherein around 20 reform proposals were discussed.
Earlier, the government-led reforms won the backing of influential former president Raul Castro.
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