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New economic measures announced in Cuba

Havana, Jun 19 (Prensa Latina) A lengthy article in the press reports on the new measures approved by the Cuban government to address the country's most pressing economic problems.

Granma newspaper spreads these decisions and highlights the most significant elements of the proposals. These are economic and social transformations presented to the National People’s Power Assembly (Cuban Parliament) with the approval of the leader of the Cuban Revolution, Army General Raul Castro Ruz, and Cuban President Miguel Diaz-Canel Bermudez.

The article notes that the Third Extraordinary Session of the National People’s Power Assembly (ANPP), in its 10th Legislature, was held to evaluate the proposed economic and social transformations, a matter of vital importance for the country’s future.

The meeting included deputies from Havana and those who reside in the capital due to their official duties.

Granma reports that in the most complex context the country has faced since the Special Period, strategically impactful transformations are emerging in the Cuban economic and social model, conceived as a sovereign exercise to preserve the achievements of the Revolution without abandoning socialism.

A total of 390 proposals were presented, with 66.7% being accepted. The remainder correspond to the implementation process, other positive assessments, and aspects that do not mean transformations.

As a result of the analysis of the proposed transformations carried out by the Political Bureau of the Communist Party of Cuba (PCC), 69 recommendations were incorporated. They noted that the official document includes 176 proposed transformations, grouped into 23 fundamental axes of the country’s economic and social life.

The document addresses the Socialist State Enterprise, with expansion of the state business system, decentralization, resizing of this system, increased powers, and other fundamental issues. This particular topic includes the allocation of profits, updating the functions and powers of the Boards of Directors, and salary adjustments.

The changes encompass the entire economic system of the country, private companies and their performance, and ownership relationships, across a broad economic and social spectrum, the publication notes.

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