Related videos:
The Cuban Deputy Prime Minister Óscar Pérez-Oliva Fraga defended on Friday the economic reform package approved by the National Assembly and categorically denied that the measures are a response to pressures from Washington, in an interview granted to CNN with journalist Juan Carlos López.
"All the transformations we are deciding on, which would have been unthinkable a few years ago in our country, have full endorsement in the law, in the Constitution of the Republic of Cuba, and are not driven by any pressure other than the interest of the highest authorities of the Cuban government to generate well-being, the well-being that our people deserve," stated the official.
The regime's message contrasts with the interpretation from the Trump administration, whose State Department characterized the measures as "modest, long-awaited, and ultimately superficial smoke signals."
The National Assembly approved in June the 176 measures grouped into 23 axes, which include the possibility for national and foreign legal entities to acquire shares in state-owned companies, the opening up of real estate development in tourist areas, direct exports by private individuals, and investment by Cubans living abroad.
Pérez-Oliva Fraga insisted that the reforms are part of a prior strategy and not a result of improvisation: "The starting point for these transformations is precisely the economic and social program of our government, which perfectly complements these changes and aims to create a different dynamism in the economy."
Regarding the distrust of foreign investors, the official acknowledged the problem but promised new guarantees: "We aim to create a favorable environment, legislation that provides legal security with a simplified process, and above all, that there is a great deal of transparency to build trust among foreign investors."
Political analyst José Azel, also consulted by CNN, was more skeptical: "Cuba needs foreign investments, capital, and that capital frankly will not exist if there are not much stronger guarantees than those being offered by the Cuban government."
The official also defended the partial elimination of universal subsidies, which he described as "unjust," and admitted that the process requires a deep cultural transformation: "One of the fundamental elements... is the change of mentality, it is the most complex."
In terms of energy, Pérez-Oliva Fraga acknowledged a critical situation: "It is widely known that our country is receiving fuel in containers; this is an unsustainable supply system for an economy."
Cuba lost Venezuela as its main oil supplier following the capture of Nicolás Maduro, and Washington's pressure on third countries has prevented other nations from consistently making up that deficit.
The day before, the same official accused the United States before the Chamber of Commerce of Cuba of seeking to impose on the island a "forced economic dependency", in a speech that foreshadows the tone with which the regime intends to position itself before the international community.
This coordinated message—repeated by Díaz-Canel and Pérez-Oliva Fraga in various settings since the approval of the package—arrives as the Cuban economy has experienced a decline of between 23% and 26% since 2019, and the CEPAL projects a GDP contraction of 6.5% for 2026, the worst in Latin America for the second consecutive year.
The Trump administration responded to the regime's reforms with a new round of sanctions on June 23 against five entities linked to GAESA, including the International Financial Bank and Almacenes Universales S.A., signaling that Washington does not view the changes announced by Havana as sufficient.
Filed under: