Cuba’s president announces economic reforms to spur investment and involve Cubans abroad

President Miguel Díaz-Canel didn’t provide details or a timetable but said it’s “time to change” and said the country “simply cannot continue on its current course.”

HAVANA — Cuban President Miguel Díaz-Canel on Friday announced a package of economic reforms aimed at attracting investment, expanding participation by Cubans living abroad in the economy and decentralizing parts of the country’s administration.

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The president did not provide details about the measures or a timetable for their implementation but said during remarks to state media that it is now “time to change” and that the country “simply cannot continue on its current course.”

“Every opportunity in the midst of a crisis must be seized as a moment for takeoff, as a moment for growth,” Díaz-Canel said, according to a statement from the presidency that was republished by state-run media. “We have established a group of priorities to confront this situation,” he added without offering specifics.