Díaz-Canel announces economic reforms to attract investment and involve Cubans abroad
The plan would expand private investment, cut ministries to 20 from 27 and give state companies and municipalities more autonomy, officials said.
- On Friday, June 12, 2026, Cuban President Miguel Diaz-Canel announced new economic reforms to decentralize authority and reduce bureaucracy, describing the shift as necessary to revitalize the economy amid ongoing United States sanctions.
- Inspired by models in China and Vietnam, the government's 2026 Economic and Social Program includes plans to streamline central administration by cutting the number of government ministries to 20 from 27.
- U.S. Secretary of State Marco Rubio announced sanctions against CUPET on Friday, alleging "Cuba's communist elites have turned energy into a tool of social control and profit." Rubio noted President Donald Trump seeks "greater freedom and opportunity" for Cubans.
- Blocking a Florida-based Vanguard Energy deal to deliver 250,000 barrels of fuel, the State Department enforced sanctions; Diaz-Canel said Cuba will prioritize solar-powered vehicle imports and develop new tourism models to bypass restrictions.
- Amid escalating tensions, the United States Department of Justice indicted former Cuban President Raul Castro for his alleged role in the 1996 aircraft shoot-down, while the United Nations warned of humanitarian impacts on civilians.
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Cuba Unveils Economic Reforms as US Squeeze Deepens Crisis
Cuba · Economy Key Facts —The announcement. President Miguel Díaz-Canel unveiled a wide reform package on June 12, branded the “Economic and Social Program for 2026.” —Power shifts down. Local governments and state firms would gain authority over imports, exports and foreign currency. —Opening up. The plan courts foreign investors, diaspora money, private business and […] The post Cuba Unveils Economic Reforms as US Squeeze Deepens Crisis appear…
Economic openings in Cuba. Open doors open to new actors, foreign and private, ready for the assault of hotels and other buildings. Less bureaucratic barriers and reduction of the number of ministries, from twenty-seven to twenty. The state apparatus prepares for a deep restructuring, announces the leader Miguel Díaz-Canel to the state media including the head office of the Communist Party Granma, promising more dynamic institutions, with greate…
Cuban leader Díaz-Canel announces economic reforms to fend off US pressure
Amid a tense standoff with the Trump administration, Cuba’s leader, Miguel Díaz-Canel, has announced sweeping reforms that would grant more autonomy to state enterprises, expand private-sector activities and allow Cubans on the island and abroad to invest on equal footing…
Havana, Cuba’s president, Miguel Díaz-Canel, said yesterday that the United States “is not forgiving” that, despite its measures of maximum pressure against the island, “the revolution continues to exist and the country continues to function,” during a speech in which he announced a series of actions to overcome the difficulties caused by the unprecedented intensification of the economic, commercial and financial blockade exercised by Washington.
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