Cuba Announces Economic Reforms and Price Hikes to Address Crises, Boost Production and Trade
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Cuba is implementing economic reforms and price increases to address shortages, inflation, and other economic crises.
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Subsidies will shift from products to supporting vulnerable groups, ending the equal subsidized distribution.
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Prices will rise for utilities like water and electricity that have been wastefully subsidized.
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Additional measures aim to boost exports, tourism, foreign investment, domestic production, and access to foreign currency.
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The reforms aim to correct economic decline, but may initially worsen some problems before improving the economy's situation.