Cuban President Miguel Díaz‑Canel announced a package of economic reforms on Friday, stating that the country needs to change. The reforms are aimed at attracting investment, expanding participation by Cubans living abroad in the economy, and decentralizing parts of Cuba’s administration.

According to the Guardian, the president said Cuba’s economy needs urgent and necessary changes and cited China and Vietnam as possible models for opening up Cuba’s economy. GDELT reported that the president did not provide details or a timetable for the measures.

Mercopress noted that the reforms are under the Economic and Social Program for 2026. WLRN reported that Cuba’s Communist Party approved an emergency economic package with free‑market measures aimed at opening up the economy, and that the emergency economic package document has not yet been made public and will be submitted to Cuba’s National Assembly.