Earlier this month, Cuba’s parliament rubber-stamped several reforms tied to Raul Castro’s program, announced almost two years ago, to grow the country’s private sector. If all goes according to plan, Cuban officials expect roughly half of the economy will be reborn in the private sector over the next five years. In theory, steep taxes on small businesses and privatized co-ops will bolster state coffers, and regulation will keep state-owned enterprises insulated from competition. In practice, the government is losing control of the privatization program.
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