Feb 26, 2013: President Raul Castro of Cuba said on Sunday that he will retire at the end of his second in 2018. Mr. Castrol who addressed the Cuban National Assembly after his re-election said, "this will be my last term."
Raul Castro assumed the presidency in 2008 after his elder brother of Fidel Castro retired from active politics after half a century as president of the communist island nation.
Miguel Diaz Canel Bermudez was elected as Vice President and is widely regarded as Castro's successor. The elder Castro made a rare appearance at the opening session of the assembly in the capital Havana.
The Castro brothers have presided over Cuba with a clenched fist and a one-party system since the 1959 revolution, which ousted the US-backed despot Fulgencio Batista.
During his first term, Raul Castro eased restrictions on foreign travel, unbanned cellphones, personal computers, and made it easier for individuals to purchase property. He also opened up the tourism industry and made easier for individuals to transfer money between the US and the Island nation.
In his remarks to the general assembly, Raul Castro reiterated his resolve to safe guard the precepts of the Cuban Revolution, saying; "I was not chosen to be president to restore capitalism to Cuba. I was elected to defend, maintain and continue to perfect socialism, not destroy it.''