Cuba's Communist Party has approved a series of reforms aimed at reducing the role of the state, and opening up the country's economy to private investment, as reported by France 24 and YLE.
Some of the reforms announced were a rehash of earlier proposals, such as granting greater autonomy to state-owned enterprises, which account for roughly 80 % of economic activity.
The reforms are an attempt to appease the United States, which has pressured Cuba with an oil embargo, that has led to an energy crisis and shortages of food, medicine and drinking water.
Time will tell, if these reforms satisfy the US president, Donald Trump.