The Cuba’s National Assembly of People’s Power approved on June 18 a package of 176 economic reforms to decentralize the national economy and counter a reinforced U.S. blockade.
The Cuban National Assembly unanimously approved on June 18 a package of economic and social transformations to preserve the achievements of the Cuban Revolution against escalating unilateral sanctions imposed by the United States.
These strategic changes span the reorganization of the tourism development model, deep modifications to the diverse property ownership systems and a complete restructuring of social subsidies and welfare. Additionally, the legislation outlines a broader framework to attract foreign investment, a wage reform, and greater local autonomy for municipal authorities across the island.
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During the extraordinary parliamentary session, Cuban Prime Minister Manuel Marrero announced the creation of an official working group tasked with managing the strategic impact of these regulations on the Cuban legal framework. Marrero emphasized that these reforms are highly adaptable and “do not constitute a renunciation of socialism”, but are rather “an indispensable condition for its long-term preservation”.
In the same legislative session, Cuban President Miguel Díaz-Canel underscored the urgency of these structural actions. The Cuban head of State asserted that “when the daily life of the people becomes extremely difficult, the primary duty of the Communist Party and the Revolutionary Government is not simply to explain the crisis, but to actively change whatever is necessary to overcome it”.
| El primer ministro, @MMarreroCruz, presentó a los diputados las transformaciones que debe acometer el país, por ejemplo, en el modelo de gestión de los actores económicos; las relaciones de propiedad; el sistema de planificación de la economía; y en el sector presupuestado. pic.twitter.com/swNLIoXkPi
— Presidencia Cuba
(@PresidenciaCuba) June 18, 2026
Text reads: “The Prime Minister, @MMarreroCruz, presented to the deputies the transformations that the country must undertake, for example, in the model of management of economic actors; ownership relations; the system of planning of the economy; and in the budgeted sector.”
The newly approved measures in key sectors of the national economy outlines deep modifications within the state enterprise framework, alongside a greater opening to both national and foreign capital. Furthermore, the plan includes the modernization of the national banking system and establishes critical coherence between the exchange, price and tax systems. Additionally, the initiative features a strategic resizing of the central state administration to reduce bureaucracy and increase efficiency across all levels of government.
Modernizing Cuban Tourism
This legislative initiative seeks to accelerate sustainable tourism and restructure the national transportation network through a significant opening to non-state management systems, direct foreign investments and dynamic new business frameworks.
Under these new regulations, the Cuban Government will allow property leasing, non-onerous usufruct, and the selective sale of real estate. These transactions will apply to both resident Cubans and citizens living abroad, evaluated on a rigorous case-by-case basis. The strategic framework introduces new actors and modern modalities into the tourism sector, specifically aiming to capture foreign direct investment from non-resident Cubans while systematically expanding the operational scope of the domestic non-state sector.
Geographically, the Cuban State is opening diverse business modalities in highly strategic destinations, including the northern Cayos, Old Havana and Trinidad. The legislation authorizes real estate development in all primary tourist zones and enables the creation of joint ventures and leasing systems for maritime marinas.
Furthermore, the plan includes pioneering digital financial measures, such as establishing an online cooperative bank designed to promote virtual assets. To improve infrastructure, joint ventures and non-state economic actors will receive authorization to manage car rentals and establish independent travel agencies, integrating local tour guides and destination managers into this ecosystem. To guarantee long-term conservation, the Government will levy a special environmental tax on tourist activities to fund ecological sustainability while promoting the international expansion of established Cuban franchises.
Business and Financial Reforms
Beyond the recreational sector, the legislative package introduces crucial updates for state enterprises, agricultural production and the national financial system. The Assembly approved clear procedures for corporate bankruptcy, liquidation and administrative restructuring. Notably, the State will now have the authority to convert state-owned entities into joint-stock companies. During the parliamentary session, Cuban authorities clarified that the State will define its shareholding limits across different economic sectors.
However, the Government will maintain a majority ownership position in strategic areas deemed vital for national sovereignty. These structural changes seek to decentralize decision-making processes, granting greater autonomy to local municipalities and state-managed corporations, which will positively affect agricultural development, foreign trade and the real estate market.
In the financial arena, the new measures permit increased private capital participation. This includes the potential creation of a private banking system operating under the direct supervision of the Central Bank of Cuba, ensuring these entities adhere to the same regulatory standards as state-run banks.
Regarding sustainable mobility, the legislation strengthens Cuba’s transition toward clean energy. The new measures encourage the direct commercial import of electric vehicles, including motorcycles and tricycles, provided they arrive equipped with their respective charging stations.
Finally, while new the legislation ratifies the supremacy of State Socialist property over fundamental means of production, it substantially reinforces non-state sector management. Both national and foreign entities can now purchase shares in state-owned enterprises and acquire selected public assets, marking a significant evolution in Cuban property relations.
Resisting Imperialist Aggression
These crucial internal transformations are being implemented against the backdrop of an aggressive economic blockade and energy siege imposed by the United States. During the first half of 2026, severe restrictions on energy imports allowed only one fuel cargo, aboard the Russian tanker Anatoly Kolodkin, to dock on the island in March.
The situation has worsened due to new unilateral coercive measures issued by the United States Government in May, which entered into force in June 2026. These regulations impose severe financial and legal penalties on foreign companies operating on the island, aimed at suffocating Cuba’s international commerce.
The possibility of sanctions (from asset freezes to restrictions on dollar use) and the deterioration of the Cuban economy as a result of the sanctions themselves, have caused in recent weeks to close partially or totally their operations on the island companies such as Canadians Sherritt and Blue Diamond, Spanish Meliá and Iberostar and several international airlines.
President Díaz-Canel strongly denounced these hostile actions, describing them as a brutal form of collective punishment designed to trigger a humanitarian crisis. He denounced that “the harsh reality that this collective punishment imposes on us in the Cuban economy, society and family stems from a real financial persecution, daily, which hinders and makes every drop of fuel, every medicine, every food product as expensive as possible, every piece and every technology that the country needs”.
In this sense, the Cuban head of State assured that while the island continues to face threats of military aggression and corporate media lies, these strategic reforms will help break the imperialist blockade and preserve the sovereign rights of the Cuban people.
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