Raul Castro rejects ‘privatizing formulas’ for Cuban economy

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.