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LatinNews Daily - 14 October 2021

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In brief: Cuba approves more MSMEs

* Cuba’s economy & planning ministry (MEP) has approved 60 new micro, small and medium-size enterprises (MSMEs) and four non-agricultural cooperatives. In line with new legislation which took effect on 20 September, permitting MSMEs to incorporate for the first time since 1968, the move is the latest bid by the Partido Comunista de Cuba (PCC) government to shore up the domestic economy which shrank 11% in 2020 due to the coronavirus (Covid-19) and US economic sanctions. This brings the total number of MSMEs and non-agricultural cooperatives in the country to 162 and six respectively, which the MEP says has created some 2,377 new jobs.