Cuba proposes over 175 measures to expand private enterprise

Cuba's prime minister presented more than 175 proposed measures to lawmakers on Thursday that would allow private real estate development, convert state businesses into private ventures, and permit private banks. The measures also include selling state-owned properties to national and foreign entities, including Cubans living abroad.

They would let businesses hire more than 100 employees and allow entrepreneurs to own multiple private businesses.

Reform details Prime Minister Manuel Marrero told legislators the measures recognize the market as an instrument for the efficient allocation of resources. He said the changes respond to the development of Cuba's socialist project. The list of measures now requires a vote by the National Assembly. Debate began in the assembly immediately after the presentation.

Background and pressure Longtime Communist Party leader Raúl Castro threw his weight behind the measures in a written letter presented first to the politburo on Wednesday. He called them beneficial and urged their speedy implementation. Cuba's state-run economy has struggled since the collapse of the Soviet Union.

Severe Trump administration sanctions, including a months-long oil blockade, have further damaged the economy and tourism industry.