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Among the 176 economic and social reforms presented this Thursday to the National Assembly of People's Power, the Cuban government included a measure that represents a significant shift in the official perspective on private wealth and capital accumulation within the country's economic system.
During the presentation of the reforms, Prime Minister Manuel Marrero Cruz stated that, while social ownership of the fundamental means of production is reaffirmed, the government will advance in expanding non-state management forms linked to those assets, reported the official newspaper Granma.
As part of this strategy, the authorities will allow the purchase of shares and properties of state-owned enterprises by state and non-state legal entities, both national and foreign, as well as by individuals, as long as they can demonstrate the lawful origin of the funds used for the investment.
Marrero also announced the creation of an Investment Program aimed at encouraging the participation of Cuban residents both inside and outside the island in Cuban companies, a measure intended to attract capital amid the severe economic crisis the country is facing.
However, one of the most striking elements of the transformations is the explicit recognition of the legitimate growth of the financial and material assets of natural and legal persons.
The formulation represents a significant shift in the official economic discourse, historically linked to a critical view of private wealth accumulation and the limitation of patrimonial differences.
The government assured that these measures will be accompanied by mechanisms aimed at protecting labor and social rights and preventing what it defined as the indiscriminate exploitation of man by man.
The reform is part of a broader package that includes the authorization of private banking, the creation of private exchange houses, the flexibilization of small and medium-sized enterprises, the opening of new opportunities for foreign investment, and an increased use of market mechanisms in the economy.
The measures come in the context of a severe economic contraction, a decline in national production, shortages of basic goods, an energy crisis, and increasing emigration.
In light of this situation, the regime has begun to incorporate proposals that for decades remained outside the boundaries accepted by the Cuban socialist model.
The possibility for individuals and companies to acquire stakes in state entities, along with the official recognition of legitimate wealth accumulation, reflects the extent to which authorities are seeking new sources of financing and capitalization for an economy facing one of the most challenging moments in its recent history.
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