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‘The state needs wealth’: Cuba opens up economy amid tightening US blockade
Posted
June 19, 2026
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1:30Now Playing"If there is no wealth, there is no social justice."
On Thursday, the Cuban government approved an emergency economics package
introducing unprecedented free market measures which would allow private banks, private real estate development and expand opportunities for private enterprise and foreign investment, including from Cubans abroad.
The day before, Cuban president Miguel Díaz-Canel delivered a speech to the Central Committee explaining the reforms in light of the “financial persecution” of the US and its “cruel blockade.”
He discussed the necessity of the reforms to create wealth for the state so that it can distribute it equitably and continue its agenda of social justice for the Cuban people: “If there is no wealth, there is nothing to distribute.”
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