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Cuba plans radical overhaul for struggling economy

2012-07-26 24 Dailymotion

At least half a million Cubans stand to lose their government jobs by early next year, after the Cuban Labour Federation blamed "bloated payrolls" and losses for the economy.<br /><br />The state, which employs 85 per cent of the country's workforce, said it will ease restrictions on private enterprise to help those laid off find new jobs.<br /><br />The government said the move to restructure Cuba's economy -- under state control for 50 years -- is designed to raise productivity, and includes a rare acknowledgement that the previous model has failed.<br /><br />Al Jazeera's Tom Ackerman reports. (Sept 14, 2010)

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