Cuba: Sectoral Balances, Unemployment Rate

by Serban V.C. Enache

Between 2008 and 2015, the Cuban Government ran fiscal deficits. In 2018, the Foreign sector ran a financial surplus against Cuba of almost 4% of the country’s GDP; in 2009 and 2012 the surplus was near zero, and in 2013 it reached a surplus of 1.4 of GDP. The Foreign Sector ran bigger deficits against Cuba in 2010, 2011, and 2014. Cuba’s Domestic Private Sector, however, ran surpluses during this time period (except for 2013), building up its equity.

Unemployment remained low during the Great Financial Crisis when compared to other states, especially the western countries – and Cuban unemployment continues to shrink.

Say what you will about the Communist Government; but the macroeconomic picture looks very good.

Serban V.C. Enache is a Romanian journalist and indie author. Though interested in history, politics, and economics, his true passion is for medieval fantasy fiction. He can be reached over Twitter.