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Cuba's President Admits Economic Crisis

Cuba's President Admits Economic Crisis

Published 2 days, 22 hours ago
Description

Cuba’s president admits the economy needs urgent, sweeping reforms — not just blaming the U.S. embargo, but confronting internal failures like bureaucracy and slow decision-making. He’s pushing to expand the private sector and attract overseas investment, citing China and Vietnam as models, while stressing these changes, though unpopular, are essential. Backed by the Communist Party and former president Raul Castro, the reforms are poised for approval — but skepticism runs high among Cubans facing daily shortages and outages. While the business class sees hope, many view the moves as too little, too late — yet they may still be Cuba’s best shot at survival.

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