LatinNews Daily - 13 June 2022

In brief: Cuba approves more MSMEs

* Cuba’s economy & planning ministry (MEP) has approved 108 new requests to create micro, small and medium-size enterprises (MSMEs). In line with new legislation which took effect in September 2021, permitting MSMEs to incorporate for the first time since 1968, this brings the total number of MSMEs and non-agricultural cooperatives in the country to 3,765 (including 51 state MSMEs and 54 non-agricultural cooperatives). The government says this has created 62,301 new jobs. The legislation was the latest bid by the government to shore up the domestic economy, which grew just 0.5% in 2021 after contracting 11% in 2020 due to the coronavirus (Covid-19) pandemic and US economic sanctions.

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