In a major policy reversal, the Cuban government will permit small, private businesses to operate in most sectors of its economy, state-run news outlets announced on 6 February.

The list of permitted activities is being expanded from 127 to more than 2,000, the announcement said.

The island’s economy has suffered for decades under tight government controls.

In 2020, Cuba’s economy shrank 11 percent, forcing the government to implement long-stalled economic reforms, including deregulating the peso, state-run businesses, and foreign investment.

Still, "the self-employed are not going to have it easy due to the complex environment in which they will operate, with few dollars and inputs in the economy," Pavel Vidal, a former economist at Cuba's central bank and now a professor at Colombia's Pontificia Universidad, told Reuters.

TREND FORECAST: Unlike Donald Trump, who imposed harsh sanctions and travel restrictions on Cuba (allegedly to gain favor with Cuban nationalists living in Florida to win their vote in the Presidential election, which he did), we forecast the Biden administration will loosen them up, as did President Obama.

When restrictions ease, Cuba, only 90 miles off the coast of Florida, will become both a travel and retirement destination for Americans. 

  1. Michel Bisson 1 year ago

    A capitalist system need freedom, there is no freedom in Cuba, this country is so sad now, my girl friend is Cuban we help her family, it is horrible what they live now,American people to retire to Cuba????

    Go tell this to my Girl friend she is laughing…

  2. Eddie Rios 1 year ago

    I’m cuban its totally a different story on the ground in Cuba! Not true at all total lock down and control is worst then ever with the cuban gov commies. Travel restrictions all over cuba already and big fees!!

Leave a reply

©2022 The Trends Journal

Log in with your credentials

Forgot your details?