In Cuba the businesses and employees are controlled by the government. No one is able to own his own business because everything belongs to the government. Even the employees that are chosen to work at anywhere, they are chosen by the government. Cuba's inflation rate is....(consumer price)
Year
2003- 7.10 %
2004- 4.10 %
2005- 3.10 %
2006- 7.00 %
2007- 5.00 %
2008- 3.10 %
2009- 3.40 %
Cuba has suffered major hits and economy downs since the fall of the Soviet which were Cuba's major supplier. Ever since Cuba has not been able to recuperate completely from that big economy fall it suffered in 1989. From 2000 on Venezuela has been Cuba's major supplier, mostly supplying petroleum and oil to Cuba. Cuba has paid portion of the money and the rest has been paid by Cuba sending about 30,000 professional doctors to Venezuela. Also, since the fall of the Soviet Union Cuba's unemployment rate went up. Many sugar cane centrals were closed and the value of the dollar went up from 20 pesos a dollar up to 150 pesos per dollar. The crisis since 1989 has been tragic for the people in Cuba.In those times the unemployment rate in Cuba wet up to about 21%.
This is Cuba's most current unemployment rate...
Year
2003- 4.10 %
2004- 2.60 %
2005- 1.90 %
2006- 1.90 %
2007- 1.90 %
2008- 1.80 %
2009- 1.60 %
Cuba reached its full employment condition, when registering a rate of 2,6% in 2004 and of 1,9 % in January, 2005. Cuba have slowly been kind of recovering little by little from the economy fall in 1989. The economy of Cuba still need a lot of work to build up and the open trade with its closest neighbor U.S.A is very necessary, but until an agreement is reached then there probably wont be much change in Cuba's economy. Spain, Venezuela, and Canada are still Cuba's top trading partners but since the system in Cuba is so controlled by the government and the people that live in the country is not able to own anything or to have a freedom, United States have not wanted to reach an understanding with Cuba's communist president, Fidel Castro.
Cuba is still making its money based on tourism, cigars, crops and fish. The economy of the country could be better is the sugar cane centrals would open again.
I think that Cuba's economy could be better if Castro decided to make the country a free country and open it to everybody in the world. People would visit Cuba and would be able to enjoy its natural beauty and resources. People from United States would be able to visit and enjoy nice vacations there. Their rum could exported here, the cigars also, sweet potatoes and all the other crops that Cuba produces. Cuba's economy would boost up and the people would actually be able to study and become something and they would also be able to own businesses and invest money and create employments and so on.
I found this information on Google, the Miami herald, Cuban newspapers, and magazines.
GDP (purchasing power parity)
$108.2 billion (2008 est.)
$103.7 billion (2007 est.)
$96.67 billion (2006 est.)
note: data are in 2008 US dollars
GDP (official exchange rate)
$54.71 billion (2008 est.)
GDP - real growth rate
4.3% (2008 est.)
7.3% (2007 est.)
12.1% (2006 est.)
GDP - composition by sector
agriculture: 4.4%
industry: 22.8%
services: 72.8% (2008 est.)
Population below poverty line
NA%
Labor force
4.962 million
note: state sector 78%, non-state sector 22% (2008 est.)
Labor force - by occupation
agriculture: 20%
industry: 19.4%
services: 60.6% (2005)
5 comments:
Wow Cuba, I wonder how long this government will last for them. Its a wonder how people can stay and live in that country. I feel so bad for people there I really hope their leader dies it is not fair for those people to live like that.
I find this post a bit disturbing, however I do like the picture thing you have up there. What I find disturbing is not your post, it's a very well-written post, it's the fact that the government owns business in Cuba. It just shows that people don't seem to have free will by owning profit for themselves, and the Cuban government is just being greedy. I think that Cuba should be a free country, because tourism would definately help out the economy. I would visit Cuba if it wasn't so hostile over there. Good post though!
I believe all it would take is opened trade between the United States and Cuba to make it a new major tourist capitol. I don't doubt that many major companies that work in hospitality already have a plan for Cuba and it would stimulate the economy tremendously like, kind of like throwing Disney world in the middle of swamp lands in Florida. I didn't realize Fidel Castro was still in power; but it was actually handed over to his younger brother, who had the same views as Fidel?
great job adding the slide show, it really brings your blogg to life. The pictures do a great job putting together your points.
Very interesting post! I dont think Cuba's economy will every be up there on the world stage as long as a Castro is in command. As long as the United States is shutting them out, they will never flourish. Thats why so many cubans want to come and live in America so they can enjoy freedom and live in a democracy!!! Thats odd to me that Canada is one of their top trading partners, because i figured they shared the same interests as us. Good post!
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