Cuba’s new constitution will recognize private property
In a summary of the constitution draft experts expect will be passed this week, the Cuban government will officially recognize the right to own private property and some general free market principles. This may provide some limited possibilities for foreign investors, but the government has promised that it will maintain a strong role that will likely stifle significant economic change. The constitution will affirm the continued rule of the Communist Party, but will institute limits on presidential terms to two five-year terms and also add a prime minister. If it is approved by the national assembly this week, it would continue to a public referendum in the fall or winter.