What to know about Cuba's economic measures aimed at opening up the island's economy (opens original article in a new tab)

Cuba's Communist Party has approved emergency economic measures to decentralize the state-run economy and introduce free-market changes, including greater municipal authority and autonomy for state-owned companies.

• Cuba's Communist Party approved emergency economic measures to decentralize the state-run economy and introduce free-market changes.
• The reforms include giving municipalities more authority to manage businesses, import/export goods, and handle foreign-currency revenue.
• State-owned companies will gain autonomy to design pay systems, use profits freely, and engage with private businesses and cooperatives.