Sunday, December 19, 2010

Raul Castro says Cubans must back economic reforms

Raul Castro says Cubans must back economic reforms
Big News Sunday 19th December, 2010

In a two hour speech, President Castro warned that the island's
revolution could fail without a major overhaul of Cuba's state-run
system, which has not changed since the 1960s.

The government wants to expand the private sector and reduce the role of
the state.

Mr Castro's two-hour speech was made at the closing session of
parliament, where he said: "We are playing with the life of the
revolution. We can either rectify the situation, or we will run out of
time walking on the edge of the abyss, and we will sink."

Cuba still runs under a Soviet-style economy, but is in deep financial
trouble due to massive subsidies paid to workers plus a decades-old US
trade embargo.

The socialist system was created by his brother Fidel Castro after the
revolution in 1959.

In Cuba, half a million state workers have been told they will lose
their jobs, but restrictions on people who want to become self-employed
have been lift

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