Cuba Council of Ministers Proposes Decrees to Regulate Private Sector Expansion

Thursday, 11 July 2024, 15:45

Cuba is implementing stricter regulations on private businesses to curb excessive profits and enhance oversight amidst a deepening economic crisis. The government aims to manage the rapid growth of the private sector while addressing soaring inflation and economic challenges. The recent proposals by the Cuba Council of Ministers signify a significant shift towards bringing order to the expanding private enterprise landscape.

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Cuba Tightens Regulations on Private Business

Cuba is implementing stricter regulations on budding private businesses to rein in profits and bolster oversight amidst a burgeoning economic crisis.

Background of Regulations

Following the lift of a ban on private companies two years ago, the Cuban government now seeks to address the economic challenges arising from unregulated growth in the private sector.

Council of Ministers Proposals

The Cuba Council of Ministers recently proposed six decrees aimed at controlling the expansion of the private sector and restoring order to the country's economic landscape.

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