Cuba’s new constitution to recognise private property

Cuba is one of the last nations in the world with an explicitly state-managed “socialist” economy – but that looks set to change. For years now, economic reforms have been expanding the role of the private sector in the forms of small, private businesses to the point where small business accounts for 13% of the economy. However, the current constitution only legally recognises state and agricultural property.¬† A new constitution due to be put to the public in a referendum will resolve this problem by allowing citizens to own property and trade for profit.

The question has to be asked: How will this work? What will the implications be for Cubans? Tess spoke to UTS’s Associate Professor of Latin American Studies, Jeff Browitt, all about this interesting development.

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