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It’s official: Cuban Government Allows Private Initiative

World Bank forecasts growth of 3.7% of Latin American GDP in 2021

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The Cuban government will allow small private businesses to operate in most fields, eliminating its limited list of activities.

The measure, coming as the Caribbean island seeks to recover from an economic slump.

The field will expand from 127 activities to more than 2,000 Labor Minister Marta Elena Feito Cabrera was quoted as saying.

She spoke at a council of ministers meeting that approved the policy.

The Cuban economy has stagnated for years and contracted by 11% last year, due to a combination of the coronavirus pandemic that devastated tourism and tough U.S. sanctions.

Cubans have been dealing with a scarcity of basic goods and endless lines to obtain them.

Source: Newsgram

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