What does Cubas economic situation look like?
Despite the U.S. embargo, it actually has improved in the last couple of years. But it’s still pretty awful. Most Cubans survive on salaries of $10 to $15 a month. All essential goods are rationed, from flour and cooking oil to shampoo and soap. Huge numbers of Cubans have been laid off from inefficient state enterprises in recent years, but continue to receive their salaries. This creates a major drag on the economy. Private business is banned, denying Cubans the chance to create jobs themselves. So what keeps the island’s economy afloat? Many rely on cash remittances from relatives abroad. This is the source of major frustration on the island, creating an unfair, dual economy of those with access to dollars (or euros), and those without. New commercial ties with Venezuela, China and Iran have helped. Cuba receives 100,000 barrels of Venezuelan oil a day at highly discounted prices, reselling what it doesn’t use on the open market. Cuba’s nickel industry has benefited from rising comm
