Publication

This paper provides an overview of economic development in Cuba since the 1990s. It looks at the individual sectors and the reforms underway, and examines Cuba's relations with the EU and the US. The authors find that Cuba's economic growth since 2004 has been fueled by revenues from sales of health care services and tourism. This has lightened the balance of payments burden. However, there has also been continued deterioration in the production sector and the loss of some avenues and growth stimuli that were generated in the 1990s. The authors conclude with a set of recommendations to halt the economic decline in these sectors.