Cuba's Economic Crisis

Cuba is facing a profound economic crisis characterized by spiraling inflation and a severe shortage of basic goods, surpassing conditions experienced during the 1990s. The government’s centrally planned, state-controlled economy has proven ineffective, leading to the inability to produce essential items like sugar and to maintain sufficient imports due to a lack of foreign currency. Since 2021, the Cuban government has attempted to introduce limited reforms aimed at opening up small and medium enterprises, but has subsequently reverted to restrictive policies that hinder private economic growth. As a result, widespread discontent is growing among the populace, prompting many to leave the island in search of better opportunities.