Subject: Business & Economics / Economic Conditions

Subject: Business & Economics / Economic Conditions

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the Cuban Economy

|9780822986003|Cuba faced an economic meltdown of catastrophic proportions in the early 1990s when covert subsidies from the former Soviet Union disappeared. Policies instituted by the island republic's government to handle the worst problems have had inconsistent results. Opening the economy to foreign enterprise has resulted in positive growth in tourism and nickel and cigar exports. However, remnants of the older economy, including the sugar and biotechnological industries, have only experienced a decrease in capital and importance. Basic educational and health services have been maintained surprisingly well, but the standard of living is still far below the highs of the 1980s….

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