Cuban lawmakers and parliament have approved a sweeping package of free-market reforms designed to open the island's struggling economy and attract foreign investment. Between 174 and nearly 200 measures were adopted, easing the economic model and boosting private sector involvement. Officials and observers describe the move as one of the most significant policy shifts in recent history and the most substantial change in government policy in 15 years.
The reforms aim to rescue the communist island from its worst economic crisis in decades, a situation aggravated by a U.S. oil blockade. Cuba is currently facing frequent blackouts and widespread shortages of food, fuel, and medicine.
Observers have called these measures the most sweeping economic overhaul of the island's communist economy since the Cuban revolution. Emphasizing the necessity of these changes, the grandson of former President Raúl Castro stated in an interview that Cuba must seek to move its economy forward.