Cuban Lawmakers Approve More Than 175 Reforms in Broadest Changes to Cuba’s Economy Since 1959

The vote, backed by former leader Raúl Castro, allows private banks, real estate sales to foreigners, and larger private firms.

Vintage and modern cars are parked along Avenida del Puerto in Havana, on June 17, 2026. Pablo Porciuncula / AFP via Getty Images

Cuba’s National Assembly on Thursday unanimously approved more than 175 economic reforms that would increase private enterprise within the country’s state-managed socialist framework. The package targets long-standing inefficiencies and the impact of U.S. sanctions.

Prime Minister Manuel Marrero introduced the measures in a nearly two-hour televised address to lawmakers, while President Miguel Díaz-Canel spoke ahead of the vote and discussed upholding socialist organization amid external pressure.