The economy of Cuba may have been better off under Castro and is now getting worse following his death and “thawed us sanctions”. Cuban economy slipping
Economy Minister Ricardo Cabrisas said Cuba’s gross domestic product fell nearly 1 per cent after seeing a growth rate of close to 3 per cent over the 4 years prior.
Every economy seems to slowly parish once the US becomes involved.
HAVANA—Cuban officials announced Tuesday that the island’s economy shrank this year despite an increased opening with the United States.
Economy Minister Ricardo Cabrisas told Parliament that the island’s gross domestic product fell nearly 1 per cent after seeing a growth rate of nearly 3 per cent from 2011-2015. He blamed the slump on shrinking exports and financial troubles in allied Venezuela.
The last time official figures showed a fall in Cuba’s gross domestic product was in 1993 after the Soviet Union collapsed, abruptly stripping away much of the country’s aid and trade.
A global drop in petroleum prices has slammed Venezuela’s oil-dependent economy, forcing it to cut back sales of crude oil to Cuba, with exports dropping from 115,000 barrels daily in 2008 to 90,000 in recent years to 40,000 a day in the past few months. In addition, the number of contracts for professional services with Venezuela has dwindled and some payments have not been made, Cabrisas said. A large number of Cuban doctors have long travelled to Venezuela, with their salaries going directly to the Cuban government.
Americans and people world wide are hopefully wondering if world wide corruption and poverty will end after trumps inauguration on January 20th 2017.
As always we will keep you updated.