People in Cuba can now legally own businesses. Most companies in Cuba have been state-owned since the 1959 revolution that brought Fidel Castro to power. He nationalised industries and put them into state hands. Now business people can operate businesses with 100 workers. The government's change of heart came after street protests against worsening economic conditions. People also protested about food shortages and the coronavirus pandemic.
Cuba's president will do more to help the economy. Cuba gets revenues and foreign currency from tourism and the production of sugar. The coronavirus pandemic and poor harvests have reduced revenues. This means it has become difficult for Cuba to import food and medicine. An expert on Cuba said many entrepreneurs have spent years working and trying hard to contribute to Cuba's economic well-being.