Communist-run Cuba unveiled tighter regulations on non-agricultural cooperatives...
HAVANA - Communist-run Cuba unveiled tighter regulations on non-agricultural cooperatives on Friday, including curbs on their prices, in keeping with a broader push to increase control of the growing non-state sector.
The cooperatives - where each worker has a stake in the business - were legalized in 2012 as part of the government’s plan to cut a bloated state payroll and boost the Soviet-style command economy. Some economists said the new regulations, which enter into force in November, suggest the Communist Party is still nervous about allowing the non-state sector to grow. Without such growth, Havana may struggle to boost an ailing economy battling less Venezuelan aid and tighter U.S. sanctions, they said.
State-run media on Friday detailed the “irregularities” that authorities said they had found at cooperatives. Some had been hiking prices too much and cooking their books, they cited Yovana Vega Matos of Cuba’s economic reform commission as saying. They cap the amount cooperatives in some sectors can charge for their services by limiting their profits relative to expenses, and allow local authorities to implement price caps if necessary.
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