Raul Castro rejects ‘privatizing formulas’ for Cuban economy

Cuban President Raul Castro pictured during a press conference with US President Barack Obama (out of frame) at the Revolution Palace in Havana on March 21, 2016
AFP

Havana (AFP) – President Raul Castro vowed Saturday never to pursue “privatizing formulas” or “shock therapy,” setting the tone for a Communist Party congress convened to review progress in revamping the island’s Soviet-style economy.

“Cuba will never permit the application of so-called shock therapies, which are frequently applied to the detriment of society’s most humble classes,” he said in a speech opening the congress.

.