The Cuban economy was negatively affected by the COVID-19 pandemic, as well as by additional sanctions from the United States imposed by the Trump administration. In 2020, the country's economy declined by 11%, the country's worst decline in nearly 30 years.

Apr 27, 2024 · Omar Everleny Pérez, a Cuban economist and university professor, says the main culprits are the government’s growing fiscal deficit, the nonexistence of banknotes with a denomination greater than 1,000 Cuban pesos (about $3 in the parallel market), stubbornly high inflation and the nonreturn of cash to banks.

Apr 25, 2017 · Cuba is the 89th, largest importing economy in the world. The country's top imports are food, machinery and equipment, chemicals, and petroleum. The country's top import partners are Venezuela with 38.7%, China with 9.8%, Spain with 8.4%, Brazil with 4.7% and Algeria with 4.4% of the country's total import.

Jan 24, 2024 · Cuba is going through its worst economic crisis in 30 years. Since 2020, Cubans have suffered falling wages, deteriorating public services , regular power outages, severe shortages and a growing...

Sep 28, 2023 · The economic crisis in Cuba is prompting an exodus by thousands, but also giving rise to a greater free market enterprise to begin taking hold on the Communist island.

Dec 29, 2023 · Today the Cuban economy is not what it was a few years ago, but much more diverse in its form of ownership and management. The public enterprise (majority) must exercise leadership in a more competitive and open system.

Jul 21, 2024 · Cuba produces little in sufficient quantity: not sugar, which it once supplied to the world; not eggs, which it recently imported from Colombia; not milk powder, which it gets from the UN;...