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Cuba has approved a 176-measure economic reform package, the most extensive since the 1959 revolution, allowing private banking, lifting limits on private enterprise size, and reducing state control over trade. Source: infobae President Miguel Díaz-Canel insists the reforms are "cubanísimas" and a "sovereignty exercise," but acknowledges US pressure helped "accelerate" decisions. Source: infobae (Díaz-Canel interview)
The state will relinquish control over most commerce, end price controls, and allow private ownership of multiple businesses and properties. Foreign investment rules are relaxed, and state-owned enterprises may be partially privatized. Source: lavanguardia However, experts doubt implementation without US sanction relief, and Cuba lacks rule of law and creditworthiness. Source: infobae
Some analysts compare the changes to China or Vietnam's state capitalism, but note that tourism has collapsed – down 58.4% in early 2026 – and international hotel chains like Meliá and Iberostar have exited. Source: elnacionalve Díaz-Canel ruled out capitalist restoration, calling the changes "perfeccionamiento del socialismo." Source: infobae (Díaz-Canel interview)
The success depends on attracting diaspora investment and US willingness to ease sanctions. Washington has not signaled relaxation. Source: lavanguardia
“Los economistas señalan que el plan representa un cambio radical: es la primera vez desde la revolución de 1959, que instauró el régimen comunista, que el gobierno ofrece renunciar al control total del comercio.”
“Nosotros no estamos buscando una restauración capitalista del país. Nosotros estamos buscando un perfeccionamiento de la construcción socialista en las condiciones tan adversas en las que vivimos hoy.”
“Cuba aspira a copiar la fórmula de China para superar la peor crisis del régimen en los casi setenta años que han pasado desde el triunfo de la revolución comunista.”
“Meliá Hotels International, la compañía que durante décadas simbolizó la apuesta internacional por el turismo cubano, anunció su salida inmediata de quince hoteles en la isla.”