Nguyen Khac Chinh

Аннотация

INTRODUCTION entrepreneurs, private farm workers, cooperative When Miguel Díaz-Canel became the president of members, and joint venture employees. Cuba, uncertainties surrounded the economy, Entrepreneurship offers more Cubans autonomy especially the private sector. Market reforms by and economic independence. With Díaz-Canel's Raúl Castro led to a surge in innovative anticipated reelection in 2023, a continuation of entrepreneurs, from 157,000 in 2010 to 567,000 current policies is expected under his leadership in by early 2017 . This group, comprising 12% of the 'Partido Comunista de Cuba.' Despite upcoming Cuba's 5.1 million workers, expands to 32% when challenges like currency shortages, declining living considering unlicensed businesses, part-time https://www.theamericanjournals.com/index.php/tajssei 13 THE USA JOURNALS THE AMERICAN JOURNAL OF SOCIAL SCIENCE AND EDUCATION INNOVATIONS (ISSN- 2689-100X) VOLUME 06 ISSUE07 standards, slow economic growth, and high quality, and preserving the socialist system. inflation, there may be hurdles in implementing planned market-oriented strategies. However, a 2. Important reforms build a more dynamic positive outlook on significant economic reforms economy in Cuba's near future is evident. 2.1. Reforming the economy begins with 1. The Cuban economy Issues before Miguel amendments to the Constitution Diaz-Canel’s term In July 2018, the Cuban National Assembly voted to Miguel Diaz-Canel becomes the new President of replace Cuba's 1976 Constitution with a new the Council of State and Council of Ministers of document drafted in 2014. President Miguel Díaz- Cuba, taking over from Raul Castro for 2018-2023. Canel carefully analyzed the impact of changes on The Cuban economy has seen minor changes under the constitutional order when amending the President Raul, with a few significant Constitution. The analysis drew from Cuba's improvements. The delays in important reform socialist construction, global constitutional programs have prevented a significant economic processes, historical aspects, and Cuban traditions. boost. Cuba faced economic challenges like His reformist ideas align with Raúl Castro Ruz's liquidity shortages, especially in export output. vision expressed in 2012, emphasizing the Despite past investment plans, the fuel supply importance of shedding old mindsets and remained a concern. The nation heavily relied on embracing a forward-looking approach rooted in food and energy imports, with agricultural Martí's legacy and Marxism-Leninism. production stagnant for years. This has led to Cuba importing a large percentage of its food. The The new Magna Carta introduces 87 new country's aging population was a significant issue, provisions, acknowledging different ownership with more retirees and fewer working-age types and the importance of foreign investment in individuals potentially causing a labor shortage. the economy. It supports socialist ownership, essential planning, market functions, and private External pressure grew as Cuba sought 2.5 billion sector properties. The Cuban Model combines USD yearly for progress amidst policy challenges, socialist principles with economic development with just 1/3 of the target reached due to US policy strategies, incorporating feedback from different shifts. Consistent US foreign policy was crucial societal sectors. State-owned enterprises have a after President Trump reversed the efforts to vital role with a focus on autonomy. The improve US-Cuba relations. The National Assembly constitution highlights the significance of foreign and new leadership must act to address these investment and guarantees essential protections challenges with suitable policies. for economic progress . On April 19, 2018, Miguel Díaz-Canel Bermudez, Policy adjustments expected to create a favorable the new President of the Council of State and environment for the private economic sector to Council of Ministers of Cuba, delivered his debut develop and attract foreign investment are likely to address to the 9th Cuban National Assembly. He breathe new life into the Cuban economy. assured the Cuban people of his commitment to their trust, honoring Fidel Castro's legacy and 2.2. Changes in legal policies for the private emulating Raul Castro. Díaz-Canel also vowed to economic sector modernize Cuba's social and economic structure The Cuban government has approved updated by eliminating dual currencies, enhancing internet https://www.theamericanjournals.com/index.php/tajssei 14 THE USA JOURNALS THE AMERICAN JOURNAL OF SOCIAL SCIENCE AND EDUCATION INNOVATIONS (ISSN- 2689-100X) VOLUME 06 ISSUE07 legal regulations to grant legal status to small and One of the recent economic policy updates in medium-sized enterprises, eliminating September 2021 permits the Central Bank of Cuba uncertainties. Significant policy changes for Cuba's (BCC) to approve foreign currency loans for non- private economy were introduced in August 2021, agricultural cooperatives a