Published as “Overview”

The Soviet-style economy, centrally planned and largely state owned, is highly dependent on the agricultural sector and foreign trade. Sugar provides about 75% of export revenues and is mostly exported to the USSR and other CEMA countries. The economy has stagnated since 1985 under a program that has deemphasized material incentives in the workplace, abolished farmers' informal produce markets, and raised prices of government-supplied goods and services.

Castro has complained that the ongoing CEMA reform process has interfered with the regular flow of goods to Cuba. Recently the government has been trying to increase trade with Latin America and China. Cuba has had difficulty servicing its foreign debt since 1982. The government currently is encouraging foreign investment in tourist facilities. Other investment priorities include sugar, basic foods, and nickel. The annual $4 billion Soviet subsidy, a main prop to Cuba's threadbare economy, may be cut in view of the USSR's mounting economic problems.

The Soviet-style economy, centrally planned and largely state owned, is highly dependent on the agricultural sector and foreign trade. Sugar provides about 75% of export revenues and is mostly exported to the USSR and other CEMA countries. The economy has stagnated since 1985 under a program that has deemphasized material incentives in the workplace, abolished farmers' informal produce markets, and raised prices of government-supplied goods and services. Castro has complained that the ongoing CEMA reform process has interfered with the regular flow of goods to Cuba. Recently the government has been trying to increase trade with Latin America and China. Cuba has had difficulty servicing its foreign debt since 1982. The government currently is encouraging foreign investment in tourist facilities. Other investment priorities include sugar, basic foods, and nickel. The annual $4 billion Soviet subsidy, a main prop to Cuba's threadbare economy, may be cut in view of the USSR's mounting economic problems.

Published as “Overview”

The economy, centrally planned and largely state owned, is highly dependent on the agricultural sector and foreign trade. Sugar provides about 75% of export revenues and over half is exported to the USSR. The economy has stagnated since 1985 under policies that have deemphasized material incentives in the workplace, abolished farmers' informal produce markets, and raised prices of government-supplied goods and services.

In 1990 the economy probably fell 3%, largely as a result of declining trade with the Soviet Union and Eastern Europe. Recently the government has been trying to increase trade with Latin America and China. Cuba has had difficulty servicing its foreign debt since 1982. The government currently is encouraging foreign investment in tourist facilities. Other investment priorities include sugar, basic foods, and nickel. The annual $4 billion Soviet subsidy, a main prop to Cuba's threadbare economy, is likely to show a substantial decline over the next few years in view of the USSR's mounting economic problems.

Instead of highly subsidized trade, Cuba will be shifting to trade at market prices in convertible currencies. In early 1991, the shortages of fuels, spare parts, and industrial products in general had become so severe as to amount to a deindustrialization process in the eyes of some observers.

The ~~Soviet-style~~ economy, centrally planned and largely state owned, is highly dependent on the agricultural sector and foreign trade. Sugar provides about 75% of export revenues and over half is ~~mostly~~ exported to the ~~USSR and other CEMA countries.~~ USSR. The economy has stagnated since 1985 under ~~a program~~ policies that ~~has~~ have deemphasized material incentives in the workplace, abolished farmers' informal produce markets, and raised prices of government-supplied goods and services. ~~Castro has complained that~~ In 1990 the ~~ongoing CEMA reform process has interfered~~ economy probably fell 3%, largely as a result of declining trade with the ~~regular flow of goods to Cuba.~~ Soviet Union and Eastern Europe. Recently the government has been trying to increase trade with Latin America and China. Cuba has had difficulty servicing its foreign debt since 1982. The government currently is encouraging foreign investment in tourist facilities. Other investment priorities include sugar, basic foods, and nickel. The annual $4 billion Soviet subsidy, a main prop to Cuba's threadbare economy, ~~may be cut~~ is likely to show a substantial decline over the next few years in view of the USSR's mounting economic problems. Instead of highly subsidized trade, Cuba will be shifting to trade at market prices in convertible currencies. In early 1991, the shortages of fuels, spare parts, and industrial products in general had become so severe as to amount to a deindustrialization process in the eyes of some observers.

Published as “Overview”

The economy, centrally planned and largely state owned, is highly dependent on the agricultural sector and foreign trade. Sugar provided about two-thirds of export revenues in 1991, and over half was exported to the former Soviet republics. The economy has stagnated since 1985 under policies that have deemphasized material incentives in the workplace, abolished farmers' informal produce markets, and raised prices of government-supplied goods and services.

In 1990 the economy probably fell 5% largely as a result of declining trade with the former Soviet Union and Eastern Europe. Recently the government has been trying to increase trade with Latin America and China. Cuba has had difficulty servicing its foreign debt since 1982. The government currently is encouraging foreign investment in tourist facilities and in industrial plants idled by falling imports from the former Soviet Union.

Other investment priorities include sugar, basic foods, and nickel. The annual Soviet subsidy dropped from $4 billion in 1990 to about $1 billion in 1991 because of a lower price paid for Cuban sugar and a sharp decline in Soviet exports to Cuba. The former Soviet republics have indicated they will no longer extend aid to Cuba beginning in 1992. Instead of highly subsidized trade, Cuba has been shifting to trade at market prices in convertible currencies. Because of increasingly severe shortages of fuels, industrial raw materials, and spare parts, aggregate output dropped by one-fifth in 1991.

The economy, centrally planned and largely state owned, is highly dependent
on the agricultural sector and foreign trade. Sugar ~~provides~~ provided about ~~75%~~
two-thirds of export revenues in 1991, and over half is was exported to the ~~USSR.~~
former Soviet republics. The economy has stagnated since 1985 under policies
that have deemphasized material incentives in the workplace, abolished
farmers' informal produce markets, and raised prices of government-supplied
goods and services. In 1990 the economy probably fell ~~3%,~~ 5% largely as a result
of declining trade with the former Soviet Union and Eastern Europe. Recently
the government has been trying to increase trade with Latin America and
China. Cuba has had difficulty servicing its foreign debt since 1982. The
government currently is encouraging foreign investment in tourist ~~facilities.~~ facilities
and in industrial plants idled by falling imports from the former Soviet
Union. Other investment priorities include sugar, basic foods, and nickel.
The annual Soviet subsidy dropped from $4 billion ~~Soviet subsidy, a main prop to Cuba's threadbare economy, is likely~~ in 1990 to ~~show~~ about $1
billion in 1991 because of a ~~substantial~~ lower price paid for Cuban sugar and a sharp
decline ~~over the next few years~~ in ~~view of the USSR's mounting economic problems.~~ Soviet exports to Cuba. The former Soviet republics have
indicated they will no longer extend aid to Cuba beginning in 1992. Instead
of highly subsidized trade, Cuba ~~will be~~ has been shifting to trade at market prices
in convertible currencies. ~~In early 1991, the~~ Because of increasingly severe shortages of
fuels, industrial raw materials, and spare parts, ~~and industrial products in general had become so severe as to amount to a deindustrialization process~~ aggregate output dropped
by one-fifth in ~~the eyes of some observers.~~ 1991.

Published as “Overview”

Since Castro's takeover of Cuba in 1959, the economy has been run in the Soviet style of government ownership of substantially all the means of production and government planning of all but the smallest details of economic activity. Thus, Cuba, like the former Warsaw Pact nations, has remained in the backwater of economic modernization. The economy contracted by about one-third between 1989 and 1992 as it absorbed the loss of $4 billion of annual economic aid from the former Soviet Union and much smaller amounts from Eastern Europe.

The government implemented numerous energy conservation measures and import substitution schemes to cope with a large decline in imports. To reduce fuel consumption, Havana has cut back bus service and imported approximately 1 million bicycles from China, domesticated nearly 200,000 oxen to replace tractors, and halted a large amount of industrial production. The government has prioritized domestic food production and promoted herbal medicines since 1990 to compensate for lower imports. Havana also has been shifting its trade away from the former Soviet republics and Eastern Europe toward the industrialized countries of Latin America and the OECD.

Rewritten: too little of the 1992 text remains to mark the changes.
Since Castro's takeover of Cuba in 1959, the economy has been run in the
Soviet style of government ownership of substantially all the means of
production and government planning of all but the smallest details of
economic activity. Thus, Cuba, like the former Warsaw Pact nations, has
remained in the backwater of economic modernization. The economy contracted
by about one-third between 1989 and 1992 as it absorbed the loss of $4
billion of annual economic aid from the former Soviet Union and much smaller
amounts from Eastern Europe. The government implemented numerous energy
conservation measures and import substitution schemes to cope with a large
decline in imports. To reduce fuel consumption, Havana has cut back bus
service and imported approximately 1 million bicycles from China,
domesticated nearly 200,000 oxen to replace tractors, and halted a large
amount of industrial production. The government has prioritized domestic
food production and promoted herbal medicines since 1990 to compensate for
lower imports. Havana also has been shifting its trade away from the former
Soviet republics and Eastern Europe toward the industrialized countries of
Latin America and the OECD.

Published as “Overview”

Cuba's heavily statist economy remains in a severe depression as a result of the loss of massive amounts of economic aid from the former Soviet Bloc. In 1989-93, GDP declined by about 40% and import capability fell by about 80%. Reduced imports of fuel, spare parts, and chemicals combined with rainy weather to cut the production of sugar - the country's top export - from 7 million tons in 1992 to 4.3 million tons in 1993, causing a loss of more than $400 million in export revenue.

The government implemented several measures designed to stem the economic decline, e.g., legalizing the use of foreign currency by Cuban citizens in August 1993 in an attempt to increase remittances of foreign exchange from abroad. Authorities in September 1993 began permitting self-employment in over 100 mostly service occupations. Also in September the government broke up many state farms into smaller, more autonomous cooperative units in an attempt to increase worker incentives and boost depressed food production levels.

Fuel shortages persisted throughout 1993; draft animals and bicycles continued to replace motor-driven vehicles, and the use of electricity by households and factories was cut from already low levels. With the help of foreign investment, tourism has been one bright spot in the economy, with arrivals and earnings reaching record highs in 1993. Government officials have expressed guarded optimism for 1994, as the country struggles to achieve sustainable economic growth at a much-reduced standard of living.

Rewritten: too little of the 1993 text remains to mark the changes.
Cuba's heavily statist economy remains in a severe depression as a
result of the loss of massive amounts of economic aid from the former
Soviet Bloc. In 1989-93, GDP declined by about 40% and import
capability fell by about 80%. Reduced imports of fuel, spare parts,
and chemicals combined with rainy weather to cut the production of
sugar - the country's top export - from 7 million tons in 1992 to 4.3
million tons in 1993, causing a loss of more than $400 million in
export revenue. The government implemented several measures designed
to stem the economic decline, e.g., legalizing the use of foreign
currency by Cuban citizens in August 1993 in an attempt to increase
remittances of foreign exchange from abroad. Authorities in September
1993 began permitting self-employment in over 100 mostly service
occupations. Also in September the government broke up many state
farms into smaller, more autonomous cooperative units in an attempt to
increase worker incentives and boost depressed food production levels.
Fuel shortages persisted throughout 1993; draft animals and bicycles
continued to replace motor-driven vehicles, and the use of electricity
by households and factories was cut from already low levels. With the
help of foreign investment, tourism has been one bright spot in the
economy, with arrivals and earnings reaching record highs in 1993.
Government officials have expressed guarded optimism for 1994, as the
country struggles to achieve sustainable economic growth at a
much-reduced standard of living.

Published as “Overview”

Cuba's heavily statist economy remains severely depressed as the result of its own inefficiencies and the loss of massive amounts of economic aid from the former Soviet Bloc. Total output in 1994 was only about half the output of 1989. The fall in output and in imports is reflected in the deterioration of food supplies, shortages of electricity, inability to get spare parts, and the replacement of motor-driven vehicles by bicycles and draft animals.

Higher world market prices for sugar and nickel in 1994, however, resulted in a slight increase in export earnings for the first time in six years, despite lower production of both commodities. The growth of tourism slowed in late 1994 as a result of negative publicity surrounding the exodus of Cubans from the island and other international factors. The government continued its aggressive search for foreign investment and announced preliminary agreements to form large joint ventures with Mexican investors in telecommunications and oil refining.

In mid-1994, the National Assembly began introducing several new taxes and price increases to stem growing excess liquidity and restore some of the peso's value as a monetary instrument. In October the government attempted to stimulate food production by permitting the sale of any surplus production (over state quotas) at unrestricted prices at designated markets. Similar but much smaller markets were also introduced for the sale of manufactured goods in December.

The various government measures have influenced a remarkable appreciation of the black market value of the peso, from more than 100 pesos to the dollar in September 1994 to 40 pesos to the dollar in early 1995. Policy discussions continue in the bureaucracy over the proper pace and scope of economic reform.

Rewritten: too little of the 1994 text remains to mark the changes.
Cuba's heavily statist economy remains severely depressed as
the result of its own inefficiencies and the loss of massive amounts
of economic aid from the former Soviet Bloc. Total output in 1994 was
only about half the output of 1989. The fall in output and in imports
is reflected in the deterioration of food supplies, shortages of
electricity, inability to get spare parts, and the replacement of
motor-driven vehicles by bicycles and draft animals. Higher world
market prices for sugar and nickel in 1994, however, resulted in a
slight increase in export earnings for the first time in six years,
despite lower production of both commodities. The growth of tourism
slowed in late 1994 as a result of negative publicity surrounding the
exodus of Cubans from the island and other international factors. The
government continued its aggressive search for foreign investment and
announced preliminary agreements to form large joint ventures with
Mexican investors in telecommunications and oil refining. In mid-1994,
the National Assembly began introducing several new taxes and price
increases to stem growing excess liquidity and restore some of the
peso's value as a monetary instrument. In October the government
attempted to stimulate food production by permitting the sale of any
surplus production (over state quotas) at unrestricted prices at
designated markets. Similar but much smaller markets were also
introduced for the sale of manufactured goods in December. The various
government measures have influenced a remarkable appreciation of the
black market value of the peso, from more than 100 pesos to the dollar
in September 1994 to 40 pesos to the dollar in early 1995. Policy
discussions continue in the bureaucracy over the proper pace and scope
of economic reform.

The state retains a primary role in the economy and controls practically all foreign trade. The government has undertaken several reforms in recent years designed to stem excess liquidity, raise labor incentives, and increase the availability of food, consumer goods, and services from depressed levels. The liberalized agricultural markets introduced in October 1994, where state and private farms are authorized to sell any above-quota production at unrestricted prices, have broadened legal consumption alternatives and reduced black market prices.

The government's efforts to reduce subsidies to loss-making enterprises and shrink the money supply caused the black market exchange rate to move from a peak of 120 pesos to the dollar in the summer of 1994 to 25-30 pesos to the dollar at yearend 1995. The number of self-employed workers licensed by the government increased more slowly in 1995, from 160,000 at yearend 1994 to 190,000 in July 1995 and to about 210,000 in January 1996.

Discussions continue within the leadership over the relative affluence of self-employed workers and the growing inequality of income in what has historically been a strictly egalitarian society. The government released new economic data in 1995 which showed a 35% decline in GDP during 1989-1993, a drop precipitated by the withdrawal of massive Soviet aid and prolonged by Cuba's own economic inefficiencies. The decline in GDP apparently was halted in 1994, and government officials claim that GDP increased by 2.5% in 1995.

Export earnings rose by 20% in 1995 to $1.6 billion, largely on the strength of higher world prices for key commodities and increased production of nickel through joint ventures with a Canadian firm. Higher export revenues and new credits from European firms and Mexico enabled Havana to increase its imports for the first time in six years. Imports rose 21% to almost $2.4 billion, or 30% of the 1989 level. Officials have sharply criticized provisions of legislation under consideration in the US Congress, which aims to curtail third-country investment in expropriated US properties in Cuba and deny official assistance to Havana.

Rewritten: too little of the 1995 text remains to mark the changes.
The state retains a primary role in the economy
and controls practically all foreign trade. The government has
undertaken several reforms in recent years designed to stem excess
liquidity, raise labor incentives, and increase the availability of
food, consumer goods, and services from depressed levels. The
liberalized agricultural markets introduced in October 1994, where
state and private farms are authorized to sell any above-quota
production at unrestricted prices, have broadened legal consumption
alternatives and reduced black market prices. The government's
efforts to reduce subsidies to loss-making enterprises and shrink
the money supply caused the black market exchange rate to move from
a peak of 120 pesos to the dollar in the summer of 1994 to 25-30
pesos to the dollar at yearend 1995. The number of self-employed
workers licensed by the government increased more slowly in 1995,
from 160,000 at yearend 1994 to 190,000 in July 1995 and to about
210,000 in January 1996. Discussions continue within the leadership
over the relative affluence of self-employed workers and the growing
inequality of income in what has historically been a strictly
egalitarian society. The government released new economic data in
1995 which showed a 35% decline in GDP during 1989-1993, a drop
precipitated by the withdrawal of massive Soviet aid and prolonged
by Cuba's own economic inefficiencies. The decline in GDP apparently
was halted in 1994, and government officials claim that GDP
increased by 2.5% in 1995. Export earnings rose by 20% in 1995 to
$1.6 billion, largely on the strength of higher world prices for key
commodities and increased production of nickel through joint
ventures with a Canadian firm. Higher export revenues and new
credits from European firms and Mexico enabled Havana to increase
its imports for the first time in six years. Imports rose 21% to
almost $2.4 billion, or 30% of the 1989 level. Officials have
sharply criticized provisions of legislation under consideration in
the US Congress, which aims to curtail third-country investment in
expropriated US properties in Cuba and deny official assistance to
Havana.

Published as “Economy - overview”

The state plays the primary role in the economy and controls practically all foreign trade. The government has undertaken several reforms in recent years to stem excess liquidity, increase labor incentives, and alleviate serious shortages of food, consumer goods, and services. The liberalized agricultural markets introduced in October 1994, at which state and private farmers sell above-quota production at unrestricted prices, have broadened legal consumption alternatives and reduced black market prices.

Government efforts to lower subsidies to unprofitable enterprises and to shrink the money supply caused the peso's black market value to move from a peak of 120 to the dollar in the summer of 1994 to a low of 18-20 to the dollar in late September before climbing to 20-21 at the end of 1996. New taxes helped drive down the number of legally registered self-employed workers from 208,000 in January 1996 to 180,000 by December.

Havana announced in 1995 that GDP declined by 35% during 1989-1993, the result of lost Soviet aid and domestic inefficiencies. The drop in GDP apparently halted in 1994, when Cuba reported a 0.7% growth. Government officials claimed that GDP increased by 2.5% in 1995 and 7.8% in 1996. Export earnings rose an estimated 40% in 1996 to $2.1 billion, largely on the strength of increased sugar shipments to Russia and higher nickel production through a joint venture with a Canadian firm. With the economic recovery, imports rose for the second straight year, growing by an estimated 26% to $3.5 billion. Living standards for the average Cuban, however, have not improved significantly.

The state ~~retains a~~ plays the primary role in the economy
and controls practically all foreign trade. The government has
undertaken several reforms in recent years ~~designed~~ to stem excess
liquidity, ~~raise~~
increase labor incentives, and ~~increase the availability~~ alleviate serious shortages of
food,
consumer goods, and ~~services from depressed levels.~~ services. The
liberalized agricultural markets
introduced in October 1994, ~~where~~
at which state and private ~~farms are authorized to~~ farmers sell ~~any above-quota~~
above-quota production at unrestricted prices, have broadened legal ~~consumption~~
consumption alternatives and reduced black market prices. ~~The government's~~ Government
efforts to ~~reduce~~ lower subsidies to ~~loss-making~~ unprofitable enterprises and to shrink
the money supply caused the peso's black market ~~exchange rate~~ value to move from
a
peak of 120 ~~pesos~~ to the dollar in the summer of 1994 to 25-30
pesos to the dollar at yearend 1995. The number a low of ~~self-employed~~ 18-20 to
~~workers licensed by~~ the government increased more slowly in 1995,
from 160,000 at yearend 1994 to 190,000 dollar in ~~July 1995 and~~ late September before climbing to about
210,000 in January 1996. Discussions continue within 20-21 at the ~~leadership~~ end of
~~over~~ 1996. New taxes helped drive down the ~~relative affluence~~ number of legally registered
self-employed workers and the growing
inequality of income from 208,000 in ~~what has historically been a strictly~~ January 1996 to 180,000 by
~~egalitarian society. The government released new economic data~~ December. Havana announced in
1995 ~~which showed a 35% decline in~~ that GDP declined by 35% during ~~1989-1993, a drop~~
~~precipitated by~~ 1989-1993, the ~~withdrawal~~ result of ~~massive~~ lost Soviet aid and prolonged
by Cuba's own economic domestic inefficiencies.
The ~~decline~~ drop in GDP apparently
~~was~~ halted in 1994, ~~and government~~ when Cuba reported a 0.7%
growth. Government officials ~~claim~~ claimed that GDP
increased by 2.5% in ~~1995.~~
1995 and 7.8% in 1996. Export earnings rose ~~by 20%~~ an estimated 40% in ~~1995 to~~ 1996
~~$1.6~~ to $2.1 billion, largely on the strength of ~~higher world prices for key~~ increased sugar shipments
~~commodities~~ to Russia and ~~increased production of~~ higher nickel production through a joint
~~ventures~~ venture with a
Canadian firm. Higher export revenues and new
credits from European firms and Mexico enabled Havana to increase
its With the economic recovery, imports rose for the ~~first time in six years. Imports rose 21%~~ second
straight year, growing by an estimated 26% to $3.5 billion. Living
~~almost $2.4 billion, or 30% of~~ standards for the ~~1989 level. Officials~~ average Cuban, however, have
sharply criticized provisions of legislation under consideration in
the US Congress, which aims to curtail third-country investment in
expropriated US properties in Cuba and deny official assistance to not improved
~~Havana.~~ significantly.

Published as “Economy-overview”

The state plays the primary role in the economy and controls practically all foreign trade. The government has undertaken several reforms in recent years to stem excess liquidity, increase labor incentives, and alleviate serious shortages of food, consumer goods, and services. The liberalized agricultural markets introduced in October 1994, at which state and private farmers sell above-quota production at unrestricted prices, have broadened legal consumption alternatives and reduced black market prices.

Government efforts to lower subsidies to unprofitable enterprises and to shrink the money supply caused the semi-official exchange rate for the Cuban peso to move from a peak of 120 to the dollar in the summer of 1994 to 23 to the dollar by yearend 1997. New taxes introduced in 1996 helped drive down the number of self-employed workers from 208,000 in January 1996 to 176,000 by September 1997. Havana announced in 1995 that GDP declined by 35% during 1989-93, the result of lost Soviet aid and domestic inefficiencies.

The drop in GDP apparently halted in 1994, when Cuba reported 0.7% growth, followed by increases of 2.5% in 1995 and 7.8% in 1996. Growth slowed again in 1997, to 2.5%, in part due to a poor sugar harvest. Export earnings declined 3% in 1997, to $1.9 billion, the result of lower sugar export volume and lower world prices for nickel and sugar. Imports remained unchanged in 1997 at $3.2 billion. Tourism plays a key role in foreign currency earnings.

The disparity between those at the top of the ladder and those at the bottom has increased markedly in the past 10 years. Living standards for the average Cuban remain at a depressed level compared with 1990.

The state plays the primary role in the economy
and
controls practically all foreign trade. The government has
undertaken
several reforms in recent years to stem excess liquidity,
increase
labor incentives, and alleviate serious shortages of food,
consumer
goods, and services. The liberalized agricultural markets
introduced
in October 1994, at which state and private farmers sell
above-quota
production at unrestricted prices, have broadened legal
consumption
alternatives and reduced black market prices. Government
efforts to
lower subsidies to unprofitable enterprises and to shrink
the money
supply caused the ~~peso's black market value~~ semi-official exchange rate for the Cuban peso to
move from a
peak of 120 to the dollar in the summer of 1994 to ~~a low of 18-20~~ 23 to
the dollar in late September before climbing to 20-21 at the end of
1996. by yearend 1997. New taxes introduced in 1996 helped drive
down the number of ~~legally registered~~
self-employed workers from 208,000 in January 1996
to ~~180,000~~ 176,000 by
~~December.~~ September 1997. Havana announced in 1995 that GDP
declined by 35% during
~~1989-1993,~~ 1989-93, the result of lost Soviet aid and
domestic inefficiencies.
The drop in GDP apparently halted in 1994,
when Cuba reported a 0.7%
~~growth. Government officials claimed that GDP increased~~ growth, followed by increases of 2.5% in
1995
and 7.8% in 1996. Growth slowed again in 1997, to 2.5%, in part due to
a poor sugar harvest. Export earnings ~~rose an estimated 40%~~ declined 3% in ~~1996~~
1997, to ~~$2.1~~ $1.9
billion, ~~largely on~~ the ~~strength~~ result of ~~increased~~ lower sugar shipments
to Russia export volume and ~~higher~~ lower world
prices for nickel ~~production through a joint venture with~~ and sugar. Imports remained unchanged in 1997 at
$3.2 billion. Tourism plays a key role in foreign currency earnings.
~~Canadian firm. With~~ The disparity between those at the ~~economic recovery, imports rose for~~ top of the ~~second~~ ladder and those at the
~~straight year, growing by an estimated 26% to $3.5 billion.~~ bottom has increased markedly in the past 10 years. Living
standards
for the average Cuban, however, have not improved
significantly. Cuban remain at a depressed level compared with 1990.

Published as “Economy--overview”

The state plays the primary role in the economy and controls practically all foreign trade. The government has undertaken several reforms in recent years to stem excess liquidity, increase labor incentives, and alleviate serious shortages of food, consumer goods, and services. The liberalized agricultural markets introduced in October 1994, at which state and private farmers sell above-quota production at unrestricted prices, have broadened legal consumption alternatives and reduced black market prices.

Government efforts to lower subsidies to unprofitable enterprises and to shrink the money supply caused the semi-official exchange rate for the Cuban peso to move from a peak of 120 to the dollar in the summer of 1994 to 21 to the dollar by yearend 1998. New taxes introduced in 1996 helped drive down the number of self-employed workers from 208,000 in January 1996 to 155,000 by July 1998. Havana announced in 1995 that GDP declined by 35% during 1989-93, the result of lost Soviet aid and domestic inefficiencies.

The drop in GDP apparently halted in 1994, when Cuba reported 0.7% growth, followed by increases of 2.5% in 1995 and 7.8% in 1996. Growth slowed again in 1997 and 1998 to 2.5% and 1.2% respectively. Export earnings declined 22% in 1998, to $1.4 billion, the result of lower sugar export volume and lower world prices for nickel and sugar. Import expenditures also fell 15% to $3.0 billion, in part due to lower world oil prices. Tourism and remittances play a key role in foreign currency earnings. Living standards for the average Cuban remain at a depressed level compared with 1990.

The state plays the primary role in the economy ~~and~~
and controls practically all foreign trade. The government has ~~undertaken~~
undertaken several reforms in recent years to stem excess liquidity, ~~increase~~
increase labor incentives, and alleviate serious shortages of food, ~~consumer~~
consumer goods, and services. The liberalized agricultural markets ~~introduced~~
introduced in October 1994, at which state and private farmers sell ~~above-quota~~
above-quota production at unrestricted prices, have broadened legal ~~consumption~~
consumption alternatives and reduced black market prices. Government
efforts to
lower subsidies to unprofitable enterprises and to shrink
the money
supply caused the semi-official exchange rate for the
Cuban peso to
move from a peak of 120 to the dollar in the summer of
1994 to 23 21 to
the dollar by yearend ~~1997.~~ 1998. New taxes introduced in
1996 helped drive
down the number of self-employed workers from
208,000 in January 1996
to ~~176,000~~ 155,000 by ~~September 1997.~~ July 1998. Havana announced in
1995 that GDP
declined by 35% during 1989-93, the result of lost
Soviet aid and
domestic inefficiencies. The drop in GDP apparently
halted in 1994,
when Cuba reported 0.7% growth, followed by
increases of 2.5% in 1995
and 7.8% in 1996. Growth slowed again in ~~1997, to 2.5%, in part due to~~
~~a poor sugar harvest.~~ 1997 and 1998 to 2.5% and 1.2% respectively. Export earnings
declined 3% 22% in ~~1997,~~ 1998, to ~~$1.9~~
$1.4 billion, the result of lower sugar
export volume and lower world
prices for nickel and sugar. ~~Imports remained unchanged~~ Import
expenditures also fell 15% to $3.0 billion, in ~~1997 at~~ part due to lower
~~$3.2 billion.~~ world oil prices. Tourism ~~plays~~ and remittances play a key role in foreign
currency earnings.
The disparity between those at the top of the ladder and those at the
bottom has increased markedly in the past 10 years. Living standards
for the average Cuban remain at
a depressed level compared with 1990.

Published as “Economy - overview”

The state under the durable dictatorship of Fidel CASTRO plays the primary role in the domestic economy and controls practically all foreign trade. The government has undertaken several reforms in recent years to stem excess liquidity, increase labor incentives, and alleviate serious shortages of food, consumer goods, and services. The liberalized agricultural markets introduced in October 1994, at which state and private farmers sell above-quota production at unrestricted prices, have broadened legal consumption alternatives and reduced black market prices.

Government efforts to lower subsidies to unprofitable enterprises and to shrink the money supply caused the semi-official exchange rate for the Cuban peso to move from a peak of 120 to the dollar in the summer of 1994 to 21 to the dollar by yearend 1999. New taxes introduced in 1996 have helped drive down the number of self-employed workers from 208,000 in January 1996. Havana announced in 1995 that GDP declined by 35% during 1989-93, the result of lost Soviet aid and domestic inefficiencies.

The drop in GDP apparently halted in 1994, when Cuba reported 0.7% growth, followed by increases of 2.5% in 1995 and 7.8% in 1996. Growth slowed again in 1997 and 1998 to 2.5% and 1.2% respectively. Growth recovered again in 1999 with a 6.2% increase in GDP, due to the continued growth of tourism. Central control is complicated by the existence of the informal economy, much of which is denominated in dollars. Living standards for the average (dollarless) Cuban remain at a depressed level compared with 1990. The continuation of gradual economic reforms and increase in tourism suggest growth of 4% to 5% in 2000.

The state under the durable dictatorship of Fidel CASTRO plays the primary role in the domestic economy
and controls practically all foreign trade. The government has
undertaken several reforms in recent years to stem excess liquidity,
increase labor incentives, and alleviate serious shortages of food,
consumer goods, and services. The liberalized agricultural markets
introduced in October 1994, at which state and private farmers sell
above-quota production at unrestricted prices, have broadened legal
consumption alternatives and reduced black market prices. Government
efforts to lower subsidies to unprofitable enterprises and to shrink
the money supply caused the semi-official exchange rate for the
Cuban peso to move from a peak of 120 to the dollar in the summer of
1994 to 21 to the dollar by yearend ~~1998.~~ 1999. New taxes introduced in
1996 have helped drive down the number of self-employed workers from
208,000 in January ~~1996 to 155,000 by July 1998.~~ 1996. Havana announced in
1995 that GDP declined by 35% during 1989-93, the result of lost
Soviet aid and domestic inefficiencies. The drop in GDP apparently
halted in 1994, when Cuba reported 0.7% growth, followed by
increases of 2.5% in 1995 and 7.8% in 1996. Growth slowed again in
1997 and 1998 to 2.5% and 1.2% respectively. Export earnings
declined 22% Growth recovered again in 1998, to $1.4 billion, the result of lower sugar
export volume and lower world prices for nickel and sugar. Import
expenditures also fell 15% to $3.0 billion, 1999 with a 6.2% increase in ~~part~~ GDP, due to lower
world oil prices. Tourism and remittances play a key role the continued growth of tourism. Central control is complicated by the existence of the informal economy, much of which is denominated in foreign
currency earnings. dollars. Living standards for the average (dollarless) Cuban remain at
a depressed level compared with 1990. The continuation of gradual economic reforms and increase in tourism suggest growth of 4% to 5% in 2000.

Published as “Economy - overview”

The government, the primary player in the economy, has undertaken limited reforms in recent years to stem excess liquidity, increase enterprise efficiency, and alleviate serious shortages of food, consumer goods, and services, but prioritizing of political control makes extensive reforms unlikely. Living standards for the average Cuban, without access to dollars, remain at a depressed level compared with 1990. The liberalized farmers' markets introduced in 1994, sell above-quota production at market prices, expand legal consumption alternatives, and reduce black market prices.

Income taxes and increased regulations introduced since 1996 have sharply reduced the number of legally self-employed from a high of 208,000 in January 1996. Havana announced in 1995 that GDP declined by 35% during 1989-93 as a result of lost Soviet aid and domestic inefficiencies. The slide in GDP came to a halt in 1994 when Cuba reported growth in GDP of 0.7%. Cuba reported that GDP increased by 2.5% in 1995 and 7.8% in 1996, before slowing down in 1997 and 1998 to 2.5% and 1.2% respectively.

Growth recovered with a 6.2% increase in GDP in 1999 and a 5.6% increase in 2000. Much of Cuba's recovery can be attributed to tourism revenues and foreign investment. Growth in 2001 should continue at the same level as the government balances the need for economic loosening against its concern for firm political control.

The ~~state under the durable dictatorship of Fidel CASTRO plays~~ government, the primary ~~role~~ player in the ~~domestic economy and controls practically all foreign trade. The government~~ economy, has undertaken ~~several~~ limited reforms in recent years to stem excess liquidity, increase ~~labor incentives,~~ enterprise efficiency, and alleviate serious shortages of food, consumer goods, and ~~services.~~ services, but prioritizing of political control makes extensive reforms unlikely. Living standards for the average Cuban, without access to dollars, remain at a depressed level compared with 1990. The liberalized ~~agricultural~~ farmers' markets introduced in ~~October~~ 1994, ~~at which state and private farmers~~ sell above-quota production at ~~unrestricted~~ market prices, ~~have broadened~~ expand legal consumption ~~alternatives~~ alternatives, and ~~reduced~~ reduce black market prices. Government efforts to lower subsidies to unprofitable enterprises and to shrink the money supply caused the semi-official exchange rate for the Cuban peso to move from a peak of 120 to the dollar in the summer of 1994 to 21 to the dollar by yearend 1999. New Income taxes and increased regulations introduced in since 1996 have ~~helped drive down~~ sharply reduced the number of legally self-employed ~~workers~~ from a high of 208,000 in January 1996. Havana announced in 1995 that GDP declined by 35% during ~~1989-93, the~~ 1989-93 as a result of lost Soviet aid and domestic inefficiencies. The ~~drop~~ slide in GDP ~~apparently halted~~ came to a halt in ~~1994,~~ 1994 when Cuba reported ~~0.7% growth, followed by increases~~ growth in GDP of 0.7%. Cuba reported that GDP increased by 2.5% in 1995 and 7.8% in ~~1996. Growth slowed again~~ 1996, before slowing down in 1997 and 1998 to 2.5% and 1.2% respectively. Growth recovered ~~again in 1999~~ with a 6.2% increase in ~~GDP, due to the continued growth of tourism. Central control is complicated by the existence of the informal economy, much of which is denominated~~ GDP in ~~dollars. Living standards for the average (dollarless) Cuban remain at a depressed level compared with 1990. The continuation of gradual economic reforms~~ 1999 and a 5.6% increase in ~~tourism suggest growth~~ 2000. Much of 4% Cuba's recovery can be attributed to 5% tourism revenues and foreign investment. Growth in ~~2000.~~ 2001 should continue at the same level as the government balances the need for economic loosening against its concern for firm political control.

Published as “Economy - overview”

The government continues to balance the need for economic loosening against a concern for firm political control. It has undertaken limited reforms in recent years to stem excess liquidity, increase enterprise efficiency, and alleviate serious shortages of food, consumer goods, and services, but is unlikely to implement extensive changes. A major feature of the economy is the dichotomy between relatively efficient export enclaves and inefficient domestic sectors.

The average Cuban's standard of living remains at a lower level than before the severe economic depression of the early 1990s, which was caused by the loss of Soviet aid and domestic inefficiencies. High oil prices, recessions in key export markets, and damage from Hurricane Michelle hampered growth in 2001. Cuba paid high prices for oil imports in the face of slumping prices in the key sugar and nickel industries and suffered a slowdown in tourist arrivals following September 11.

The government aimed for 3% growth in 2002, but growth was held back by hurricanes, depressed tourism, and faltering world economic conditions, including low world sugar prices and a shortage of external financing.

Rewritten: too little of the 2001 text remains to mark the changes.
The government continues to balance the need for economic loosening against a concern for firm political control. It has undertaken limited reforms in recent years to stem excess liquidity, increase enterprise efficiency, and alleviate serious shortages of food, consumer goods, and services, but is unlikely to implement extensive changes. A major feature of the economy is the dichotomy between relatively efficient export enclaves and inefficient domestic sectors. The average Cuban's standard of living remains at a lower level than before the severe economic depression of the early 1990s, which was caused by the loss of Soviet aid and domestic inefficiencies. High oil prices, recessions in key export markets, and damage from Hurricane Michelle hampered growth in 2001. Cuba paid high prices for oil imports in the face of slumping prices in the key sugar and nickel industries and suffered a slowdown in tourist arrivals following September 11. The government aimed for 3% growth in 2002, but growth was held back by hurricanes, depressed tourism, and faltering world economic conditions, including low world sugar prices and a shortage of external financing.

Published as “Economy - overview”

The government continues to balance the need for economic loosening against a desire for firm political control. It has undertaken limited reforms in recent years to increase enterprise efficiency and alleviate serious shortages of food, consumer goods, and services but is unlikely to implement extensive changes. A major feature of the economy is the dichotomy between relatively efficient export enclaves and inefficient domestic sectors.

The average Cuban's standard of living remains at a lower level than before the severe economic depression of the early 1990s, which was caused by the loss of Soviet aid and domestic inefficiencies. High oil import prices, recessions in key export markets, damage from Hurricanes Isidore and Lili, and the tourist slump after 11 September 2001 hampered growth in 2002.

The government continues to balance the need for economic loosening against a ~~concern~~ desire for firm political control. It has undertaken limited reforms in recent years to ~~stem excess liquidity,~~ increase enterprise ~~efficiency,~~ efficiency and alleviate serious shortages of food, consumer goods, and ~~services,~~ services but is unlikely to implement extensive changes. A major feature of the economy is the dichotomy between relatively efficient export enclaves and inefficient domestic sectors. The average Cuban's standard of living remains at a lower level than before the severe economic depression of the early 1990s, which was caused by the loss of Soviet aid and domestic inefficiencies. High oil import prices, recessions in key export markets, ~~and~~ damage from ~~Hurricane Michelle hampered growth in 2001. Cuba paid high prices for oil imports in the face of slumping prices in the key sugar~~ Hurricanes Isidore and ~~nickel industries~~ Lili, and ~~suffered a slowdown in~~ the tourist ~~arrivals following~~ slump after 11 September ~~11. The government aimed for 3%~~ 2001 hampered growth in ~~2002, but growth was held back by hurricanes, depressed tourism, and faltering world economic conditions, including low world sugar prices and a shortage of external financing.~~ 2002.

Published as “Economy - overview”

The government continues to balance the need for economic loosening against a desire for firm political control. It has undertaken limited reforms to increase enterprise efficiency and alleviate serious shortages of food, consumer goods, and services. A major feature of the economy is the dichotomy between relatively efficient export enclaves and inefficient domestic sectors. The average Cuban's standard of living remains at a lower level than before the depression of the 1990s, which was caused by the loss of Soviet aid and domestic inefficiencies. The government reluctantly allows a large dollar market sector, fueled by tourism and remittances from Cubans abroad.

The government continues to balance the need for economic loosening against a desire for firm political control. It has undertaken limited reforms ~~in recent years~~ to increase enterprise efficiency and alleviate serious shortages of food, consumer goods, and ~~services but is unlikely to implement extensive changes.~~ services. A major feature of the economy is the dichotomy between relatively efficient export enclaves and inefficient domestic sectors. The average Cuban's standard of living remains at a lower level than before the ~~severe economic~~ depression of the ~~early~~ 1990s, which was caused by the loss of Soviet aid and domestic inefficiencies. ~~High oil import prices, recessions in key export markets, damage from Hurricanes Isidore and Lili,~~ The government reluctantly allows a large dollar market sector, fueled by tourism and ~~the tourist slump after 11 September 2001 hampered growth in 2002.~~ remittances from Cubans abroad.

Published as “Economy - overview”

The government continues to balance the need for economic loosening against a desire for firm political control. It has undertaken limited reforms to increase enterprise efficiency and alleviate serious shortages of food, consumer goods, and services. A major feature of the economy is the dichotomy between relatively efficient export enclaves and inefficient domestic sectors. The average Cuban's standard of living remains at a lower level than before the depression of the 1990s, which was caused by the loss of Soviet aid and domestic inefficiencies. The government in 2004 strengthened its controls over dollars coming into the economy from tourism, remittances, and trade.

The government continues to balance the need for economic loosening against a desire for firm political control. It has undertaken limited reforms to increase enterprise efficiency and alleviate serious shortages of food, consumer goods, and services. A major feature of the economy is the dichotomy between relatively efficient export enclaves and inefficient domestic sectors. The average Cuban's standard of living remains at a lower level than before the depression of the 1990s, which was caused by the loss of Soviet aid and domestic inefficiencies. The government ~~reluctantly allows a large dollar market sector, fueled by tourism and remittances~~ in 2004 strengthened its controls over dollars coming into the economy from ~~Cubans abroad.~~ tourism, remittances, and trade.

Published as “Economy - overview”

The government continues to balance the need for economic loosening against a desire for firm political control. It has rolled back limited reforms undertaken in the 1990s to increase enterprise efficiency and alleviate serious shortages of food, consumer goods, and services. The average Cuban's standard of living remains at a lower level than before the downturn of the 1990s, which was caused by the loss of Soviet aid and domestic inefficiencies.

The government in 2005 strengthened its controls over dollars coming into the economy from tourism, remittances, and trade. External financing has helped growth in the mining, oil, construction, and tourism sectors.

The government continues to balance the need for economic loosening against a desire for firm political control. It has ~~undertaken~~ rolled back limited reforms undertaken in the 1990s to increase enterprise efficiency and alleviate serious shortages of food, consumer goods, and services. ~~A major feature of the economy is the dichotomy between relatively efficient export enclaves and inefficient domestic sectors.~~ The average Cuban's standard of living remains at a lower level than before the ~~depression~~ downturn of the 1990s, which was caused by the loss of Soviet aid and domestic inefficiencies. The government in ~~2004~~ 2005 strengthened its controls over dollars coming into the economy from tourism, remittances, and trade. External financing has helped growth in the mining, oil, construction, and tourism sectors.

Published as “Economy - overview”

The government continues to balance the need for economic loosening against a desire for firm political control. It has rolled back limited reforms undertaken in the 1990s to increase enterprise efficiency and alleviate serious shortages of food, consumer goods, and services. The average Cuban's standard of living remains at a lower level than before the downturn of the 1990s, which was caused by the loss of Soviet aid and domestic inefficiencies.

Since late 2000, Venezuela has been providing Cuba oil on preferential terms, and it currently supplies about 98,000 barrels per day of petroleum products. Cuba has been paying for the oil, in part, with the services of Cuban personnel, including some 20,000 medical professionals. In 2006, high metals prices continued to boost Cuban earnings from nickel and cobalt production. Havana continued to invest in the country's energy sector to mitigate electrical blackouts that have plagued the country since 2004.

The government continues to balance the need for economic loosening against a desire for firm political control. It has rolled back limited reforms undertaken in the 1990s to increase enterprise efficiency and alleviate serious shortages of food, consumer goods, and services. The average Cuban's standard of living remains at a lower level than before the downturn of the 1990s, which was caused by the loss of Soviet aid and domestic inefficiencies. ~~The government~~ Since late 2000, Venezuela has been providing Cuba oil on preferential terms, and it currently supplies about 98,000 barrels per day of petroleum products. Cuba has been paying for the oil, in ~~2005 strengthened its controls over dollars coming into~~ part, with the ~~economy~~ services of Cuban personnel, including some 20,000 medical professionals. In 2006, high metals prices continued to boost Cuban earnings from ~~tourism, remittances,~~ nickel and ~~trade. External financing has helped growth~~ cobalt production. Havana continued to invest in the ~~mining, oil, construction, and tourism sectors.~~ country's energy sector to mitigate electrical blackouts that have plagued the country since 2004.

Published as “Economy - overview”

The government continues to balance the need for economic loosening against a desire for firm political control. It has rolled back limited reforms undertaken in the 1990s to increase enterprise efficiency and alleviate serious shortages of food, consumer goods, and services. The average Cuban's standard of living remains at a lower level than before the downturn of the 1990s, which was caused by the loss of Soviet aid and domestic inefficiencies.

Since late 2000, Venezuela has been providing oil on preferential terms, and it currently supplies about 100,000 barrels per day of petroleum products. Cuba has been paying for the oil, in part, with the services of Cuban personnel in Venezuela, including some 20,000 medical professionals. In 2007, high metals prices continued to boost Cuban earnings from nickel and cobalt production. Havana continued to invest in the country's energy sector to mitigate electrical blackouts that had plagued the country since 2004.

The government continues to balance the need for economic loosening against a desire for firm political control. It has rolled back limited reforms undertaken in the 1990s to increase enterprise efficiency and alleviate serious shortages of food, consumer goods, and services. The average Cuban's standard of living remains at a lower level than before the downturn of the 1990s, which was caused by the loss of Soviet aid and domestic inefficiencies. Since late 2000, Venezuela has been providing ~~Cuba~~ oil on preferential terms, and it currently supplies about ~~98,000~~ 100,000 barrels per day of petroleum products. Cuba has been paying for the oil, in part, with the services of Cuban ~~personnel,~~ personnel in Venezuela, including some 20,000 medical professionals. In ~~2006,~~ 2007, high metals prices continued to boost Cuban earnings from nickel and cobalt production. Havana continued to invest in the country's energy sector to mitigate electrical blackouts that ~~have~~ had plagued the country since 2004.

Published as “Economy - overview”

The government continues to balance the need for economic loosening against a desire for firm political control. It has rolled back limited reforms undertaken in the 1990s to increase enterprise efficiency and alleviate serious shortages of food, consumer goods, and services. The average Cuban's standard of living remains at a lower level than before the downturn of the 1990s, which was caused by the loss of Soviet aid and domestic inefficiencies.

Since late 2000, Venezuela has been providing oil on preferential terms, and it currently supplies about 100,000 barrels per day of petroleum products. Cuba has been paying for the oil, in part, with the services of Cuban personnel in Venezuela including some 30,000 medical professionals.

The government continues to balance the need for economic loosening against a desire for firm political control. It has rolled back limited reforms undertaken in the 1990s to increase enterprise efficiency and alleviate serious shortages of food, consumer goods, and services. The average Cuban's standard of living remains at a lower level than before the downturn of the 1990s, which was caused by the loss of Soviet aid and domestic inefficiencies. Since late 2000, Venezuela has been providing oil on preferential terms, and it currently supplies about 100,000 barrels per day of petroleum products. Cuba has been paying for the oil, in part, with the services of Cuban personnel in ~~Venezuela,~~ Venezuela including some ~~20,000~~ 30,000 medical professionals. In 2007, high metals prices continued to boost Cuban earnings from nickel and cobalt production. Havana continued to invest in the country's energy sector to mitigate electrical blackouts that had plagued the country since 2004.

Published as “Economy - overview”

The government continues to balance the need for economic loosening against a desire for firm political control. The government announced it would eliminate 500,000 state jobs by March 2011 and has expanded opportunities for self-employment. President CASTRO said such changes were needed to update the economic model to ensure the survival of socialism. It has rolled back limited reforms undertaken in the 1990s to increase enterprise efficiency and alleviate serious shortages of food, consumer goods, and services.

The average Cuban's standard of living remains at a lower level than before the downturn of the 1990s, which was caused by the loss of Soviet aid and domestic inefficiencies. Since late 2000, Venezuela has been providing oil on preferential terms, and it currently supplies about 100,000 barrels per day of petroleum products. Cuba has been paying for the oil, in part, with the services of Cuban personnel in Venezuela including some 30,000 medical professionals.

The government continues to balance the need for economic loosening against a desire for firm political control. The government announced it would eliminate 500,000 state jobs by March 2011 and has expanded opportunities for self-employment. President CASTRO said such changes were needed to update the economic model to ensure the survival of socialism. It has rolled back limited reforms undertaken in the 1990s to increase enterprise efficiency and alleviate serious shortages of food, consumer goods, and services. The average Cuban's standard of living remains at a lower level than before the downturn of the 1990s, which was caused by the loss of Soviet aid and domestic inefficiencies. Since late 2000, Venezuela has been providing oil on preferential terms, and it currently supplies about 100,000 barrels per day of petroleum products. Cuba has been paying for the oil, in part, with the services of Cuban personnel in Venezuela including some 30,000 medical professionals.

Published as “Economy - overview”

The government continues to balance the need for economic loosening against a desire for firm political control. The government announced it would eliminate 500,000 state jobs by March 2011 and has expanded opportunities for self-employment. President Raul CASTRO said such changes were needed to update the economic model to ensure the survival of socialism. The government has introduced limited reforms, some initially implemented in the 1990s, to increase enterprise efficiency and alleviate serious shortages of food, consumer goods, and services.

The average Cuban's standard of living remains at a lower level than before the downturn of the 1990s, which was caused by the loss of Soviet aid and domestic inefficiencies. Since late 2000, Venezuela has been providing oil on preferential terms, and it currently supplies about 100,000 barrels per day of petroleum products. Cuba has been paying for the oil, in part, with the services of Cuban personnel in Venezuela including some 30,000 medical professionals.

The government continues to balance the need for economic loosening against a desire for firm political control. The government announced it would eliminate 500,000 state jobs by March 2011 and has expanded opportunities for self-employment. President Raul CASTRO said such changes were needed to update the economic model to ensure the survival of socialism. It The government has ~~rolled back~~ introduced limited ~~reforms undertaken~~ reforms, some initially implemented in the ~~1990s~~ 1990s, to increase enterprise efficiency and alleviate serious shortages of food, consumer goods, and services. The average Cuban's standard of living remains at a lower level than before the downturn of the 1990s, which was caused by the loss of Soviet aid and domestic inefficiencies. Since late 2000, Venezuela has been providing oil on preferential terms, and it currently supplies about 100,000 barrels per day of petroleum products. Cuba has been paying for the oil, in part, with the services of Cuban personnel in Venezuela including some 30,000 medical professionals.

Published as “Economy - overview”

The government continues to balance the need for loosening its socialist economic system against a desire for firm political control. The government in April 2011 held the first Cuban Communist Party Congress in almost 13 years, during which leaders approved a plan for wide-ranging economic changes. President Raul CASTRO said such changes were needed to update the economic model to ensure the survival of socialism. The government has expanded opportunities for self employment and has introduced limited reforms, some initially implemented in the 1990s, to increase enterprise efficiency and alleviate serious shortages of food, consumer goods, services, and housing.

The average Cuban's standard of living remains at a lower level than before the downturn of the 1990s, which was caused by the loss of Soviet aid and domestic inefficiencies. Since late 2000, Venezuela has been providing oil on preferential terms, and it currently supplies over 100,000 barrels per day of petroleum products. Cuba has been paying for the oil, in part, with the services of Cuban personnel in Venezuela including some 30,000 medical professionals.

The government continues to balance the need for ~~economic~~ loosening its socialist economic system against a desire for firm political control. The government ~~announced it would eliminate 500,000 state jobs by March~~ in April 2011 ~~and has expanded opportunities~~ held the first Cuban Communist Party Congress in almost 13 years, during which leaders approved a plan for ~~self-employment.~~ wide-ranging economic changes. President Raul CASTRO said such changes were needed to update the economic model to ensure the survival of socialism. The government has expanded opportunities for self employment and has introduced limited reforms, some initially implemented in the 1990s, to increase enterprise efficiency and alleviate serious shortages of food, consumer goods, services, and ~~services.~~ housing. The average Cuban's standard of living remains at a lower level than before the downturn of the 1990s, which was caused by the loss of Soviet aid and domestic inefficiencies. Since late 2000, Venezuela has been providing oil on preferential terms, and it currently supplies ~~about~~ over 100,000 barrels per day of petroleum products. Cuba has been paying for the oil, in part, with the services of Cuban personnel in Venezuela including some 30,000 medical professionals.

Published as “Economy - overview”

The government continues to balance the need for loosening its socialist economic system against a desire for firm political control. The government in April 2011 held the first Cuban Communist Party Congress in almost 13 years, during which leaders approved a plan for wide-ranging economic changes. President Raul CASTRO said such changes were needed to update the economic model to ensure the survival of socialism. The government has expanded opportunities for self-employment and has introduced limited reforms, some initially implemented in the 1990s, to increase enterprise efficiency and alleviate serious shortages of food, consumer goods, services, and housing.

The average Cuban's standard of living remains at a lower level than before the downturn of the 1990s, which was caused by the loss of Soviet aid and domestic inefficiencies. Since late 2000, Venezuela has been providing oil on preferential terms, and it currently supplies over 100,000 barrels per day of petroleum products. Cuba has been paying for the oil, in part, with the services of Cuban personnel in Venezuela including some 30,000 medical professionals.

The government continues to balance the need for loosening its socialist economic system against a desire for firm political control. The government in April 2011 held the first Cuban Communist Party Congress in almost 13 years, during which leaders approved a plan for wide-ranging economic changes. President Raul CASTRO said such changes were needed to update the economic model to ensure the survival of socialism. The government has expanded opportunities for ~~self employment~~ self-employment and has introduced limited reforms, some initially implemented in the 1990s, to increase enterprise efficiency and alleviate serious shortages of food, consumer goods, services, and housing. The average Cuban's standard of living remains at a lower level than before the downturn of the 1990s, which was caused by the loss of Soviet aid and domestic inefficiencies. Since late 2000, Venezuela has been providing oil on preferential terms, and it currently supplies over 100,000 barrels per day of petroleum products. Cuba has been paying for the oil, in part, with the services of Cuban personnel in Venezuela including some 30,000 medical professionals.

Published as “Economy - overview”

The government continues to balance the need for loosening its socialist economic system against a desire for firm political control. The government in April 2011 held the first Cuban Communist Party Congress in almost 13 years, during which leaders approved a plan for wide-ranging economic changes. Since then, the Cuban government has slowly and incrementally implemented limited economic reforms, including allowing Cubans to buy electronic appliances and cell phones, stay in hotels, and buy and sell used cars.

The Cuban government also opened up some retail services to "self-employment," leading to the rise of so-called "cuentapropistas" or entrepreneurs. Recent moves include permitting the private ownership and sale of real estate and new vehicles, allowing private farmers to sell agricultural goods directly to hotels, and expanding categories of self-employment. Despite these reforms, the average Cuban's standard of living remains at a lower level than before the collapse of the Soviet Union and the resulting downturn of the 1990s.

Since late 2000, Venezuela has been providing oil on preferential terms, and it currently supplies over 100,000 barrels per day of petroleum products. Cuba has been paying for the oil, in part, with the services of Cuban personnel in Venezuela, including some 30,000 medical professionals.

The government continues to balance the need for loosening its socialist economic system against a desire for firm political control. The government in April 2011 held the first Cuban Communist Party Congress in almost 13 years, during which leaders approved a plan for wide-ranging economic changes. ~~President Raul CASTRO said such changes were needed to update the economic model to ensure~~ Since then, the ~~survival of socialism. The~~ Cuban government has ~~expanded opportunities for self-employment~~ slowly and ~~has introduced~~ incrementally implemented limited economic reforms, ~~some initially implemented~~ including allowing Cubans to buy electronic appliances and cell phones, stay in ~~the 1990s,~~ hotels, and buy and sell used cars. The Cuban government also opened up some retail services to ~~increase enterprise efficiency~~ "self-employment," leading to the rise of so-called "cuentapropistas" or entrepreneurs. Recent moves include permitting the private ownership and ~~alleviate serious shortages~~ sale of ~~food, consumer goods, services,~~ real estate and ~~housing. The~~ new vehicles, allowing private farmers to sell agricultural goods directly to hotels, and expanding categories of self-employment. Despite these reforms, the average Cuban's standard of living remains at a lower level than before the ~~downturn~~ collapse of the ~~1990s, which was caused by the loss of~~ Soviet ~~aid~~ Union and ~~domestic inefficiencies.~~ the resulting downturn of the 1990s. Since late 2000, Venezuela has been providing oil on preferential terms, and it currently supplies over 100,000 barrels per day of petroleum products. Cuba has been paying for the oil, in part, with the services of Cuban personnel in ~~Venezuela~~ Venezuela, including some 30,000 medical professionals.

Published as “Economy - overview”

The government continues to balance the need for loosening its socialist economic system against a desire for firm political control. The government in April 2011 held the first Cuban Communist Party Congress in almost 13 years, during which leaders approved a plan for wide-ranging economic changes. Since then, the Cuban government has slowly and incrementally implemented limited economic reforms, including allowing Cubans to buy electronic appliances and cell phones, stay in hotels, and buy and sell used cars.

As the Cuban government has cut state sector jobs as part of the reform process, it has opened up some retail services to "self-employment," leading to the rise of so-called "cuentapropistas" or entrepreneurs. Approximately 476,000 Cuban workers are currently registered as self-employed. Recent moves include permitting the private ownership and sale of real estate and new vehicles, allowing private farmers to sell agricultural goods directly to hotels, allowing the creation of non-agricultural cooperatives, adopting a new foreign investment law, and launching a “Special Development Zone” around the Mariel port.

Despite these reforms, the average Cuban's standard of living remains at a lower level than before the collapse of the Soviet Union and the resulting downturn of the 1990s. Since late 2000, Venezuela has been providing oil on preferential terms, and it supplied nearly 160,000 barrels per day of petroleum products. Cuba has been paying for the oil, in part, with the services of Cuban personnel in Venezuela, including some 30,000 medical professionals. However, in 2013 Venezuela’s economic woes forced an estimated 24% reduction in oil exports to Cuba. This downward trend continued in 2014.

The government continues to balance the need for loosening its socialist economic system against a desire for firm political control. The government in April 2011 held the first Cuban Communist Party Congress in almost 13 years, during which leaders approved a plan for wide-ranging economic changes. Since then, the Cuban government has slowly and incrementally implemented limited economic reforms, including allowing Cubans to buy electronic appliances and cell phones, stay in hotels, and buy and sell used cars. ~~The~~ As the Cuban government ~~also~~ has cut state sector jobs as part of the reform process, it has opened up some retail services to "self-employment," leading to the rise of so-called "cuentapropistas" or entrepreneurs. Approximately 476,000 Cuban workers are currently registered as self-employed. Recent moves include permitting the private ownership and sale of real estate and new vehicles, allowing private farmers to sell agricultural goods directly to hotels, ~~and expanding categories~~ allowing the creation of ~~self-employment.~~ non-agricultural cooperatives, adopting a new foreign investment law, and launching a “Special Development Zone” around the Mariel port. Despite these reforms, the average Cuban's standard of living remains at a lower level than before the collapse of the Soviet Union and the resulting downturn of the 1990s. Since late 2000, Venezuela has been providing oil on preferential terms, and it ~~currently supplies over 100,000~~ supplied nearly 160,000 barrels per day of petroleum products. Cuba has been paying for the oil, in part, with the services of Cuban personnel in Venezuela, including some 30,000 medical professionals. However, in 2013 Venezuela’s economic woes forced an estimated 24% reduction in oil exports to Cuba. This downward trend continued in 2014.

The same text in 2016 and 2017.

Published as “Economy - overview”

The government continues to balance the need for loosening its socialist economic system against a desire for firm political control. In April 2011, the government held the first Cuban Communist Party Congress in almost 13 years, during which leaders approved a plan for wide-ranging economic changes. Since then, the government has slowly and incrementally implemented limited economic reforms, including allowing Cubans to buy electronic appliances and cell phones, stay in hotels, and buy and sell used cars.

The government has cut state sector jobs as part of the reform process, and it has opened up some retail services to "self-employment," leading to the rise of so-called "cuentapropistas" or entrepreneurs. Approximately 476,000 Cuban workers are currently registered as self-employed.

The Cuban regime has updated its economic model to include permitting the private ownership and sale of real estate and new vehicles, allowing private farmers to sell agricultural goods directly to hotels, allowing the creation of non-agricultural cooperatives, adopting a new foreign investment law, and launching a “Special Development Zone” around the Mariel port.

Since late 2000, Venezuela has provided petroleum products to Cuba on preferential terms, supplying nearly 100,000 barrels per day. Cuba has been paying for the oil, in part, with the services of Cuban personnel in Venezuela, including some 30,000 medical professionals.

The government continues to balance the need for loosening its socialist economic system against a desire for firm political control. ~~The government in~~ In April ~~2011~~ 2011, the government held the first Cuban Communist Party Congress in almost 13 years, during which leaders approved a plan for wide-ranging economic changes. Since then, the ~~Cuban~~ government has slowly and incrementally implemented limited economic reforms, including allowing Cubans to buy electronic appliances and cell phones, stay in hotels, and buy and sell used cars. ~~As the Cuban~~ The government has cut state sector jobs as part of the reform process, and it has opened up some retail services to "self-employment," leading to the rise of so-called "cuentapropistas" or entrepreneurs. Approximately 476,000 Cuban workers are currently registered as self-employed. ~~Recent moves~~
The Cuban regime has updated its economic model to include permitting the private ownership and sale of real estate and new vehicles, allowing private farmers to sell agricultural goods directly to hotels, allowing the creation of non-agricultural cooperatives, adopting a new foreign investment law, and launching a “Special Development Zone” around the Mariel port. ~~Despite these reforms, the average Cuban's standard of living remains at a lower level than before the collapse of the Soviet Union and the resulting downturn of the 1990s.~~
Since late 2000, Venezuela has ~~been providing oil~~ provided petroleum products to Cuba on preferential terms, ~~and it supplied~~ supplying nearly ~~160,000~~ 100,000 barrels per ~~day of petroleum products.~~ day. Cuba has been paying for the oil, in part, with the services of Cuban personnel in Venezuela, including some 30,000 medical professionals. ~~However, in 2013 Venezuela’s economic woes forced an estimated 24% reduction in oil exports to Cuba. This downward trend continued in 2014.~~

The same text in 2018 and 2019.

Published as “Economy - overview”

The government continues to balance the need for loosening its socialist economic system against a desire for firm political control. In April 2011, the government held the first Cuban Communist Party Congress in almost 13 years, during which leaders approved a plan for wide-ranging economic changes. Since then, the government has slowly and incrementally implemented limited economic reforms, including allowing Cubans to buy electronic appliances and cell phones, stay in hotels, and buy and sell used cars.

The government has cut state sector jobs as part of the reform process, and it has opened up some retail services to "self-employment," leading to the rise of so-called "cuentapropistas" or entrepreneurs. More than 500,000 Cuban workers are currently registered as self-employed. The Cuban regime has updated its economic model to include permitting the private ownership and sale of real estate and new vehicles, allowing private farmers to sell agricultural goods directly to hotels, allowing the creation of non-agricultural cooperatives, adopting a new foreign investment law, and launching a "Special Development Zone" around the Mariel port.

Since 2016, Cuba has attributed slowed economic growth in part to problems with petroleum product deliveries from Venezuela. Since late 2000, Venezuela provided petroleum products to Cuba on preferential terms, supplying at times nearly 100,000 barrels per day. Cuba paid for the oil, in part, with the services of Cuban personnel in Venezuela, including some 30,000 medical professionals.

The government continues to balance the need for loosening its socialist economic system against a desire for firm political control. In April 2011, the government held the first Cuban Communist Party Congress in almost 13 years, during which leaders approved a plan for wide-ranging economic changes. Since then, the government has slowly and incrementally implemented limited economic reforms, including allowing Cubans to buy electronic appliances and cell phones, stay in hotels, and buy and sell used cars. The government has cut state sector jobs as part of the reform process, and it has opened up some retail services to "self-employment," leading to the rise of so-called "cuentapropistas" or entrepreneurs. ~~Approximately 476,000~~ More than 500,000 Cuban workers are currently registered as self-employed.
The Cuban regime has updated its economic model to include permitting the private ownership and sale of real estate and new vehicles, allowing private farmers to sell agricultural goods directly to hotels, allowing the creation of non-agricultural cooperatives, adopting a new foreign investment law, and launching a ~~“Special~~ "Special Development ~~Zone”~~ Zone" around the Mariel port.
Since 2016, Cuba has attributed slowed economic growth in part to problems with petroleum product deliveries from Venezuela. Since late 2000, Venezuela ~~has~~ provided petroleum products to Cuba on preferential terms, supplying at times nearly 100,000 barrels per day. Cuba ~~has been paying~~ paid for the oil, in part, with the services of Cuban personnel in Venezuela, including some 30,000 medical professionals.

The government continues to balance the need for loosening its socialist economic system against a desire for firm political control. In April 2011, the government held the first Cuban Communist Party Congress in almost 13 years, during which leaders approved a plan for wide-ranging economic changes. Since then, the government has slowly and incrementally implemented limited economic reforms, including allowing Cubans to buy electronic appliances and cell phones, stay in hotels, and buy and sell used cars.

The government has cut state sector jobs as part of the reform process, and it has opened up some retail services to "self-employment," leading to the rise of so-called "cuentapropistas" or entrepreneurs. More than 500,000 Cuban workers are currently registered as self-employed. The Cuban regime has updated its economic model to include permitting the private ownership and sale of real estate and new vehicles, allowing private farmers to sell agricultural goods directly to hotels, allowing the creation of non-agricultural cooperatives, adopting a new foreign investment law, and launching a "Special Development Zone" around the Mariel port.

Since 2016, Cuba has attributed slowed economic growth in part to problems with petroleum product deliveries from Venezuela. Since late 2000, Venezuela provided petroleum products to Cuba on preferential terms, supplying at times nearly 100,000 barrels per day. Cuba paid for the oil, in part, with the services of Cuban personnel in Venezuela, including some 30,000 medical professionals.

The government continues to balance the need for loosening its socialist economic system against a desire for firm political control. In April 2011, the government held the first Cuban Communist Party Congress in almost 13 years, during which leaders approved a plan for wide-ranging economic changes. Since then, the government has slowly and incrementally implemented limited economic reforms, including allowing Cubans to buy electronic appliances and cell phones, stay in hotels, and buy and sell used cars. The government has cut state sector jobs as part of the reform process, and it has opened up some retail services to "self-employment," leading to the rise of so-called "cuentapropistas" or entrepreneurs. More than 500,000 Cuban workers are currently registered as self-employed. The Cuban regime has updated its economic model to include permitting the private ownership and sale of real estate and new vehicles, allowing private farmers to sell agricultural goods directly to hotels, allowing the creation of non-agricultural cooperatives, adopting a new foreign investment law, and launching a "Special Development Zone" around the Mariel port. Since 2016, Cuba has attributed slowed economic growth in part to problems with petroleum product deliveries from Venezuela. Since late 2000, Venezuela provided petroleum products to Cuba on preferential terms, supplying at times nearly 100,000 barrels per day. Cuba paid for the oil, in part, with the services of Cuban personnel in Venezuela, including some 30,000 medical professionals.

The same text in 2021 and 2022.

The government continues to balance the need for loosening its socialist economic system against a desire for firm political control. In April 2011, the government held the first Cuban Communist Party Congress in almost 13 years, during which leaders approved a plan for wide-ranging economic changes. Since then, the government has slowly and incrementally implemented limited economic reforms, including allowing Cubans to buy electronic appliances and cell phones, stay in hotels, and buy and sell used cars.

The government has cut state sector jobs as part of the reform process, and it has opened up some retail services to "self-employment," leading to the rise of so-called "cuentapropistas" or entrepreneurs. More than 500,000 Cuban workers are currently registered as self-employed.

The Cuban regime has updated its economic model to include permitting the private ownership and sale of real estate and new vehicles, allowing private farmers to sell agricultural goods directly to hotels, allowing the creation of non-agricultural cooperatives, adopting a new foreign investment law, and launching a "Special Development Zone" around the Mariel port.

Since 2016, Cuba has attributed slowed economic growth in part to problems with petroleum product deliveries from Venezuela. Since late 2000, Venezuela provided petroleum products to Cuba on preferential terms, supplying at times nearly 100,000 barrels per day. Cuba paid for the oil, in part, with the services of Cuban personnel in Venezuela, including some 30,000 medical professionals.

The government continues to balance the need for loosening its socialist economic system against a desire for firm political control. In April 2011, the government held the first Cuban Communist Party Congress in almost 13 years, during which leaders approved a plan for wide-ranging economic changes. Since then, the government has slowly and incrementally implemented limited economic reforms, including allowing Cubans to buy electronic appliances and cell phones, stay in hotels, and buy and sell used cars. The government has cut state sector jobs as part of the reform process, and it has opened up some retail services to "self-employment," leading to the rise of so-called "cuentapropistas" or entrepreneurs. More than 500,000 Cuban workers are currently registered as self-employed.
The Cuban regime has updated its economic model to include permitting the private ownership and sale of real estate and new vehicles, allowing private farmers to sell agricultural goods directly to hotels, allowing the creation of non-agricultural cooperatives, adopting a new foreign investment law, and launching a "Special Development Zone" around the Mariel port.
Since 2016, Cuba has attributed slowed economic growth in part to problems with petroleum product deliveries from Venezuela. Since late 2000, Venezuela provided petroleum products to Cuba on preferential terms, supplying at times nearly 100,000 barrels per day. Cuba paid for the oil, in part, with the services of Cuban personnel in Venezuela, including some 30,000 medical professionals.

The same text in 3 editions, 2023 to 2025.

still largely state-run planned economy, although privatization increasing under new constitution;
widespread protests due to lack of basic necessities and electricity;
massive foreign investment increases recently;
known tobacco exporter;
unique oil-for-doctors relationship with Venezuela;
widespread corruption

Rewritten: too little of the 2022 text remains to mark the changes.
still largely state-run planned economy, although privatization increasing under new constitution; widespread protests due to lack of basic necessities and electricity; massive foreign investment increases recently; known tobacco exporter; unique oil-for-doctors relationship with Venezuela; widespread corruption

Economic overview Cuba, in 36 editions.

2025 edition

2025 edition

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