Cuban economy needs ‘urgent changes’ as US blockade deepens crisis, says president

Cuban President Miguel Díaz-Canel stated that Cuba's economy requires "urgent changes" to address a significant crisis exacerbated by a US oil blockade. Speaking to Communist party leaders, Díaz-Canel acknowledged the necessity of overhauling the nation's communist economic model. He referenced China and Vietnam as potential examples for Cuba to follow in opening its economy to global markets, aiming to generate wealth and ensure its equitable distribution. These remarks, broadcast on Thursday, represent one of the most direct admissions by the president regarding the need for substantial economic reform. The president's call for change underscores the severe economic pressures facing Cuba, with the US blockade identified as a key contributing factor to the current difficulties. The proposed economic adjustments are intended to foster growth while maintaining the principle of equal distribution of resources.