The results of the socialist order established in Cuba decades ago are increasingly taking their toll on its residents. Currently almost 90 percent citizens live in severe poverty.
The report published on Tuesday by the independent Cuban Observatory for Human Rights (OCDH) shows that 88 percent of Cuban citizens live in extreme poverty. The island is currently inhabited by more than 11 million people.
Poverty in Cuba
The organization draws attention to the further deepening of poverty among Cubans as a result of the increasing economic crisis. “The group of people living in extreme poverty increased by 13 percent last year,” say the authors of the report.
Official data from the Cuban government indicates that inflation on the island will reach 30 percent by 2023. At the same time, the incomes of the majority of the population remain very low. In December 2023, the minimum wage in Cuba was 7.4 euros.
Independent Cuban media write that in 2023 there were more hungry people on the streets of cities, looking for food in garbage cans or talking to passers-by on the street and asking for financial help for basic needs.
The 14ymedio portal claims that the economic crisis in Cuba, which is reflected in the impoverishment of the population, will intensify even further in 2024. Despite limited reforms, Cuba remains a socialist state.
Argentina is moving away from socialism
Another socialist country, the new president Javier Millei, plans to take the lead in the opposite direction.
Western media describe him as an economic ultra-liberal and a dangerous non-establishment politician. The media also pays attention to the postulate of ‘de-dollarization’ proposed by the Argentine free marketer. During his election campaign, the right-wing politician called for a revision of some of the values he inherited from Peronism, including: deviation from so-called social justice.
The new president’s team has already started reforms, but we will have to wait a while to see what their effects will be.
Source: Do Rzeczy
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
