In its latest step to minimize its economic role and encourage more private sector engagement, the Cuban government said it will gradually phase out state subsidy on sugar, which is a major crop in the country. The government would “gradually” reduce its control over sugar, which would then be sold privately at much higher prices, BBC reports, citing the Cuban state newspaper.

    About the author

    • Ivy Mungcal

      As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.