Prime Minister Manuel Marrero Cruz announced this Monday on X that Cuba has implemented 158 of the 176 Economic and Social Transformations (TES), which amounts to 89% of the reform package approved in June.
The announcement was made at the conclusion of a three-day training session for Presidents of Business Groups and Governing Boards held at the Superior School of State and Government, with more than 50 attendees. The 158 measures implemented are supported by 197 legal regulations.
"In three months, we have completed the implementation of 158 transformations, supported by 197 regulations. The challenge now is to achieve concrete results from what has been established: increased production, higher incomes, better prices, and more jobs," wrote Marrero Cruz.
The prime minister himself, however, acknowledged to business leaders that "now what’s most important is missing, which is to be able to feel those results," an admission that encapsulates the gap between the proclaimed regulatory progress and the reality that Cubans face.
Marrero Cruz also acknowledged that "there is a lot of uncertainty" among the population, although he remained optimistic and promised that the increased production capacity would allow "to gradually reduce prices and somewhat halt the inflation that is causing so much harm to our economy."
The 176 measures were approved by the National Assembly in an extraordinary session on June 18 and 19, 2026, and are described by authorities as the largest attempt at structural reform since the Special Period. The package includes an opening to private banking, removal of the 100-worker limit for small and medium-sized enterprises, greater autonomy for state companies, expanded foreign investment, and partial dollarization.
The regime also insisted that converting a state-owned enterprise into a joint-stock company does not imply privatization, but rather separates ownership and management to attract national or foreign private capital and improve efficiency.
But while the government celebrates the regulatory progress, the economic indicators tell a different story. The official year-on-year inflation reached 25.19% in August 2026, with food prices rising by 36.01% over twelve months.
The minimum wage is just 3,210 Cuban pesos per month, equivalent to less than five dollars at the informal exchange rate, while it is estimated that around 96,000 pesos are needed to cover the basic needs of a family. The dollar was trading at approximately 738 pesos in the informal market at the close of Sunday.
The CEPAL forecasts a contraction of the Cuban GDP by 10.3% for this year, the worst in Latin America, following three consecutive years of economic decline. In September, Cuba experienced its eighth national blackout of the year.
The regime itself admitted weeks ago that it does not know for certain if the reforms will work, while Cubans consulted by international media summarized the mood in a direct phrase: "The country is not in a position to endure or to hold on."
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