Cuba’s economic crisis is worse than after fall of the Soviet Union

[El Presidente]

 

https://www.stripes.com/history/2023-08-10/cuba-economic-crisis-worse-soviet-union-11007205.html

Cuba’s economic crisis is worse than after fall of the Soviet Union, economists warn

By 

NORA GÁMEZ

TORRES MIAMI HERALD • August 10, 2023

 

During the pandemic, the island’s budget deficit reached 17% of GDP, prices grew 401% in 2021, and the Cuban peso depreciated so much that 4,000 Cuban pesos, the medium state salary, is now worth about $16.

[SCgarman]

Where does this all eventually end up? Will Cuba just continue the miserable status quo? Or will they "volunteer " to be a republic of ? China?

[Rhinoww]

Unlike Russia, China expects to get paid. That could be a rough reality for Cuba. But as many have pointed out, what’s the recovery plan in Cuba today - seems there really isn’t one.