Miguel Díaz-Canel Bermúdez, President of the Republic, during his address at the Third Extraordinary Session of the National Assembly of People's Power in its 10th Legislature. Photo: Abel Padrón Padilla/Cubadebate

Cuba: Government approves measures to resolve economic problems

A lengthy article in today’s press reports on the new measures approved by the Cuban government. To address the country’s most pressing economic problems.

The Granma newspaper, in its Friday edition, reflects these decisions and highlights the most significant elements of the proposals. These are economic and social transformations presented to the National Assembly of People’s Power (Parliament). With the approval of the leader of the Cuban Revolution, General Army Raúl Castro Ruz, and the Cuban president, Miguel Díaz-Canel Bermúdez.

Also the article notes that the Third Extraordinary Session of the National Assembly of People’s Power, in its 10th Legislature. It was held to evaluate the proposals for economic and social transformations. A matter of vital importance for the country’s future.

The meeting, held at the Convention Palace, included members of parliament 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. Strategic 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 percent being accepted. The remainder correspond to the implementation process. Other positive assessments, and aspects that do not constitute 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 pillars of the country’s economic and social life.

The Socialist State Enterprise is addressed, including the expansion of the state business system, decentralization, resizing of this system, increased powers, and other fundamental issues.

Moreover this topic specifically includes the allocation of profits. Updating the functions and powers of the Governing Boards, and salary adjustments. The changes encompass the entire economic system of the country, private companies and their performance. Also ownership relations, across a broad economic and social spectrum, the publication notes.

With information from Prensa Latina

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