Cuban Economic Reform

Cuban economic reform refers to policies implemented to improve its economy by introducing market-oriented changes, such as allowing private businesses, increasing foreign investment, and decentralizing some state control. These reforms aim to boost productivity, create jobs, and increase individual income, moving away from strict central planning. The goal is to modernize the economy while balancing social goals, but reforms are gradual to maintain political stability. Overall, these changes seek to make the economy more dynamic and diverse, enabling Cuba to better compete globally and improve living standards.