Cuban legislators approve sweeping reforms to socialist model amid US pressure (opens original article in a new tab)

Cuban lawmakers have approved significant economic reforms, shifting towards a market economy amid US pressure, including allowing private businesses and foreign investment.

• Cuban lawmakers approve major economic reforms to transition towards a market economy.
• Reforms include private real estate development, state-owned business privatization, and allowing private banks in Cuba.
• US sanctions are cited as a key factor pushing Cuba to liberalize its economy.