Cuba’s socialist dictatorship refuses reforms to stave off economic collapse, imposes price controls instead

Cubans line up to buy food in Havana. (Photo by YAMIL LAGE/AFP)

With its socialist economy teetering on the brink of collapse, Cuba’s Castro dictatorship still refuses to reform. Doubling down on the failed socialist policies that have brought the Cuban people sixty years of rationing, poverty, and misery, the socialist Cuban regime announced yesterday it is imposing price controls on the island.

Via Reuters:

Cuba, battling economic crisis, imposes sweeping price controls

Communist-run Cuba on Tuesday imposed sweeping price controls on all state and private businesses as it battles a deepening economic crisis and mounting U.S. sanctions.

Resolutions published in the official gazette banned all retail and wholesale price increases except for products imported and distributed by the state where already-set profit margins cannot be increased.

“In effect they have suspended what there is of a market,” a Cuban economist said, asking not to be identified due to restrictions on talking to foreign journalists.

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