Cuba to scrap 'too restrictive' private-sector activities

[El Presidente]

rest assured they will reintroduce new restrictions when they deem it appropriate.  

 

https://www.reuters.com/article/us-cuba-economy/cuba-to-scrap-too-restrictive-private-sector-activities-list-as-economic-pressures-grow-idUSKCN2530DJ

 

Cuba to scrap 'too restrictive' private-sector activities list as economic pressures grow

HAVANA (Reuters) - Cuba’s Communist government said late on Thursday it would scrap a list that sets out a tight definition of business activities permitted in the island nation’s fledgling private sector, a move seen boosting self-employment, small firms and start-ups.

The move follows a string of measures loosening restrictions on the private sector over the past month as the government turns to limited reforms to tackle an economic crisis in the wake of key ally Venezuela’s implosion, increased U.S. sanctions and the coronavirus pandemic.

Labor Minister Marta Elena Feito said during a televised roundtable that the pandemic had proven the list was too restrictive, citing unauthorized production of personal protective equipment by private sector workers.

Cuban economists and private sector backers welcomed the move, but said much would depend on implementation. Cubans must still apply for a license to work in the private sector, giving authorities a high degree of discretion over what is allowed.

“This has surprised me! It’s good news and something we have been asking for years,” said Camilo Condis, an entrepreneur and host of popular podcast “El Enjambre” (“The Swarm”), in a post on Twitter. “Now it remains to be seen how and when they will implement this.”

Cuba has opened centrally planned economy to the private sector in fits and starts since the 1990s, weighing up the need to stimulate lackluster growth with concerns over rising inequality in incomes and the loss of state control.

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[NSXCIGAR]

Until things improve slightly, then back to business as usual. Rinse, repeat.