Cuba’s government has unveiled significant economic reforms aimed at attracting private investment to address ongoing infrastructure and supply issues.

The National Assembly approved 176 market-oriented measures, marking the largest economic shift in decades. President Miguel Díaz-Canel emphasized that these reforms are not an end to socialism but a necessary evolution.

While the government seeks to reduce its role and encourage private investment in sectors like real estate and tourism, experts warn that low state wages and ongoing U.S. sanctions may hinder progress.