The timid, oscillating and tightly-regulated market oriented reform has been halted since March 1996, when Raúl Castro strongly criticized the negative effects of the reform, followed by the purge of some academic reformists. That halt was ratified by the Economic Resolution approved by the Fifth Communist Party Congress held in October 1997. Rather than turning […]
The State of the Cuban Economy: 1995–96
This essay deals with three important issues on the Cuban economy in 1995-96: (1) the rate of economic growth; (2) the net effect of the sugar harvest; and (3) faulty reporting by serious publications on Cuba’s economic recovery. The following analysis is mostly based on official Cuban data. THE RATE OF ECONOMIC GROWTH IN 1995-96 Until […]