The Republic of Cuba developed as a socialist country in the wake of the 1959 revolution. After the fall of the Soviet Union in the early 1990s, the country, whose economy had been strongly dependent on the USSR, entered a long period of economic hardship that gradually led to a diversification of the national economy.
However, although many countries have recently revised their position towards Cuba and promoted economic, cultural and political exchanges, the embargo imposed on the country by the United States continues to have a severe impact not only on the island's capacity for growth, but also on the lives of all Cubans. The Cuban economy has been hit hard by the tightening of the embargo and US sanctions since 2018, as well as by the difficulties of its main ally in the region, Venezuela. Despite a limited human toll, the COVID-19 crisis worsened an already precarious situation by depriving the country of one of its main resources, tourism.
Cuban GDP fell by 11% in 2020, before rising by 0.4% in 2021 and 1.8% in 2022.
In recent years, this complex economic scenario has resulted in galloping inflation and limited access to basic necessities, such as food, health and hygiene products. The country's fuel supply has also been severely affected, leading to periodic energy and transport crises. This situation has prompted many Cubans to emigrate to the United States or European countries.
Number of HI staff: 1
Programmed opened in: 1998
