Search results
Although the Cuban government had been forecasting a fiscal deficit of 6.8% of GDP in 2020, it is likely to be greater owing to a drop in tax revenues, increased public spending on health and social security, and wage guarantees for laid-off workers.
- 164KB
- 7
In 2020, the Cuban economy shrank by 10.9% and per capita GDP fell by 10.8%. This was the steepest drop in nearly two decades and the third-sharpest decline since records began to be kept.
constant prices peaked in Cuba at 12.3% in 2006 (when Raúl Castro took power as provisional president) and fell to 0.5% in 2019 (Figure 1); the annual average growth in the last four years was 1.2%; planned growth for 2020 is 1% but the Economic Commission for Latin America and the Caribbean (ECLAC) projects it at
Oct 24, 2023 · Cuba is going through a deep economic crisis, the worst since the disappearance of the Soviet Union in the early 1990s. The causes of this crisis are multiple.
Nov 17, 2020 · Posted on November 17, 2020 by Arch Ritter. Carmelo Mesa-Lago (University of Pittsburgh) and Jan Svejnar (Columbia University) Florida International University, School of Public and International Affairs, October 2020. A definitive 2020 analysis of Cuba’s current economic situation.
Liquid assets to deposits and short term funding (%) in Cuba was reported at 62.48 % in 2020, according to the World Bank collection of development indicators, compiled from officially recognized sources.
People also ask
What happened to the economy in Cuba in 2020?
Why is Cuba's economic situation so complex?
Will Cuba have a fiscal deficit in 2020?
Will Cuba's GDP shrink in 2020?
How much will Cuba's GDP grow in 2021?
Why is Cuba's government deficit so low?
Cuba is facing the worst economic crisis since the Special Period—the extended economic decline on the island primarily due to the collapse of the Soviet Union in 1991 (particularly the worst stage in 1991–1993)—and the situation resembles that of those terrible years.
