Cuban President Raul Castro has ruled out large-scale market reforms to revive the communist island’s struggling economy, informs BBC News Monday.
Speaking to Cuba’s National Assembly, Mr Castro nonetheless insisted the socialist system was “irrevocable”.
There’s a liquidity crisis in Cuba so bad that they’re not paying foreign companies that they do business with at the moment. The economy is in very deep trouble.
He was conscious that the Cuban people expected measures to pull the country out of a deep economic crisis, the president told the assembly.
He said some restrictions on issuing licences to small businesses would be lifted, and they would also be allowed to employ staff.
Mr Castro also warned that unproductive or under-employed workers in the state sector would have to find other jobs.
