The Cuban Prime Minister, Manuel Marrero Cruz, announced on X this Monday that the nation has put into effect 158 out of 176 Economic and Social Transformations (TES), equating to 89% of the reform package approved in June.
This announcement was made as the conclusion of a three-day training session for presidents of Business Groups and Government Boards at the School for State and Government Officials, with over 50 attendees. The 158 measures implemented are supported by 197 legal regulations.
"In three months, we have completed the implementation of 158 transformations, backed by 197 regulations. The challenge now is to achieve tangible results from these: increased production, higher income, better prices, and more employment," wrote Marrero Cruz.
Yet, the Prime Minister himself acknowledged to business leaders that "the most crucial part still lies ahead, which is to see these results materialize," a frank admission highlighting the gap between proclaimed legislative progress and the reality faced by Cubans.
Marrero Cruz also admitted there is "a lot of uncertainty" among the population, although he expressed optimism and promised that increased production would "gradually lower prices and somewhat curb the inflation that damages our economy so much."
The 176 TES were approved by the National Assembly in an extraordinary session on June 18 and 19, 2026, and are described by authorities as the most significant structural reform attempt since the Special Period. The package includes opening up to private banking, removing the limit of 100 workers for small and medium-sized enterprises (SMEs), granting more autonomy to state-owned companies, expanded foreign investment, and partial dollarization.
The government also emphasized that converting a state-owned company into a joint-stock company does not imply privatization but rather separates ownership and management to attract national or foreign private capital and improve efficiency.
However, while the government celebrates this legislative progress, economic indicators tell a different story. Official annual inflation reached 25.19% in August 2026, with food prices soaring 36.01% over the past year.
The minimum wage stands at a mere 3,210 Cuban pesos per month, equivalent to less than five dollars at the informal exchange rate, while approximately 96,000 pesos are needed to meet a family's basic needs. As of Sunday, the dollar was trading at around 738 pesos in the informal market.
The Economic Commission for Latin America and the Caribbean (ECLAC) projects a 10.3% contraction in Cuba's GDP for this year, the steepest in Latin America, following three consecutive years of economic decline. In September, Cuba experienced its eighth nationwide blackout of the year.
The regime itself admitted weeks ago that it is uncertain whether the reforms will succeed, as Cubans interviewed by international media summed up the mood with a straightforward phrase: "The country can't take it anymore."
Understanding Cuba's Economic Reforms and Challenges
What percentage of the reform package has Cuba implemented?
Cuba has implemented 89% of its reform package, which includes 158 out of 176 Economic and Social Transformations.
What are some key components of the Cuban reforms?
Key elements of the reforms include opening up to private banking, eliminating the worker limit for SMEs, more autonomy for state companies, increased foreign investment, and partial dollarization.
How has inflation affected the Cuban economy recently?
Inflation has significantly impacted the Cuban economy, with official annual inflation reaching 25.19% and food prices increasing by 36.01% over the past year.