Cuba carried out a major economic adjustment


Cuba’s President Raul Castro, announced in parliament that he will make the economic adjustment located among the largest in the country’s history since the Socialist Revolution. This is an opening up to private businesses in response to the crisis that the country faces.

Among the main measures adopted by the National Assembly is the granting of private business spaces. This will be accomplished by promoting self-employment and small businesses, but controlling the operation (extraction of surplus value, profit of the enterprise through the output of each worker).

Also, state employment will be cut. Unemployment which could be generated because of this measure will be stood by permissions to small businesses to hire this surplus of labor that otherwise would be unemployed.

Finally, the National Assembly decided not to reform the international market economy and renegotiate its debt (Cuba deductions reduce bank and negotiate the U.S. $ 1 billion held by international creditors).

One Response to Cuba carried out a major economic adjustment

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