Miguel Díaz-Canel stood by the existence of foreign currency stores in Cuba during an interview with Brazilian newspaper Folha de S.Paulo, conducted by journalist Mônica Bergamo. He asserted that there are "less social differences" in Cuba compared to any capitalist nation.
The interview took an intriguing turn when Bergamo highlighted her observations from traveling across Cuba: "There are stores where you buy in dollars and others in pesos with limited goods; there is, therefore, significant social disparity."
Díaz-Canel responded by referencing the Soviet Union's collapse in the 1990s, justifying these measures as unavoidable concessions to sustain socialism. "That's when social inequality began; we had to open stores in foreign currencies. These stores aren't unique to this time; they exist in capitalism too," the leader stated, defending foreign investment with the same rationale: it's present "in every capitalist country and those building socialism alike."
While acknowledging that the emergency measures of the 1990s created social divides, particularly between those receiving remittances from the United States and those who did not, Díaz-Canel conceded that this social fracture persists over three decades later.
Despite this acknowledgment, he maintained that the Cuban gap is smaller than that of any market economy. "I assure you that Cuba has less social disparity than a capitalist country. The gap between rich and poor in the world and in capitalism is much larger than the difference here between the highest and lowest earners," he insisted.
As a closing argument, Díaz-Canel highlighted the state's welfare programs: "Even those with the lowest incomes, who are in vulnerable situations, are supported by over 32 social programs funded by the state budget. That is socialism. In capitalism, these social inequalities are unresolved. It's a matter of survival."
His statements starkly contrast with the reality faced by the Cuban people. The Cuban Social Rights Observatory estimated in September 2025 that 89% of the population lived in extreme poverty. Nearly a year later, this figure rose to 94%, according to the ninth Report on the State of Social Rights in Cuba, compiled by the Cuban Social Rights Observatory and the Cuban Observatory for Human Rights (OCDH).
Finally, when asked directly if Cuba is adopting capitalist reforms to survive, Díaz-Canel flatly denied it: "There are no capitalist reforms," he declared, two months after the National Assembly passed a package of 176 economic measures, including private banking, private exchange houses, and increased openness to foreign investment.
The leader described the expansion of the private sector as "a concession," not a socialist ideal, quoting Fidel Castro to justify this logic: "Principles are not negotiable, principles do not change, but there are times when concessions must be made to protect those principles."
Understanding Cuba's Economic and Social Landscape
Why does Cuba have stores in foreign currencies?
Cuba maintains stores in foreign currencies as a measure initially adopted in the 1990s to cope with economic challenges following the Soviet collapse. These stores are meant to generate hard currency, which is crucial for the country's socialist economy.
What social programs does Cuba offer its citizens?
Cuba offers over 32 social programs designed to support citizens with low income and those in vulnerable situations. These programs are part of the state's effort to uphold socialist values and ensure basic needs are met.
How does the Cuban government justify economic concessions?
The Cuban government views economic concessions, like the expansion of the private sector, as necessary adaptations to protect core socialist principles. These measures are seen as temporary solutions to sustain the socialist system amid global economic pressures.