Cuba Constitutional Amendment To Recognize Role Of Private Sector

Cuba's National Assembly of People's Power is discussing and reviewing a proposal of a new Constitution, in an ongoing meeting that began on July 19, 2018. The proposed new Constitution recognizes among others, the role of the market and particularly the private sector in development, through introduction of private property ownership.

Under the country's existing Constitution, only public land ownership and development is allowed. As such, if the new Constitution is passed, it will pave the way to evolution of a property market in Cuba.

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