The Cuban government’s extensive financial reforms include reducing subsidies on goods and raising wages. It hopes to entice people into the workforce and so alleviate its economic crisis.
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Unending lines in front of stores are a typical phenomenon in Cuban commerce. But, during an economic crisis that has led to shortages of basic supplies, some Cubans have made lining up a lucrative profession.
Cuba has increased the number of industries that will be free from state involvement. It is one of the biggest economic reforms for the country in years.
Cuba seems to have the pandemic under control, but its already dismal economy is set to weaken further. Supply shortages are becoming more acute; plummeting foreign remittances and a lack of tourism aren't helping.
Signs are growing in Cuba that currency reform, mooted for years, could be imminent and one of the two currencies circulating on the island will be abolished. One global hard currency has long dominated everyday life.
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