GDP
What does GDP stand for?
What is inflation?
A general increase in prices and fall in the purchasing value of money
What is inflation??
A general increase in prices and fall in the purchasing value of money
What is poverty?
The state or condition in which people or communities lack the financial resources and essentials for a minimum standard of living.
Is gender approach one of Cuba's main goals for the future? Y/N?
yes
What is the average population of Cuba
11 million
Name the main exports of Cuba
Tobacco, Rum, Sugar, medical services, nickel
What factors contribute to inflation in Cuba?
Increased government spending, excessive money printing, supply chain disruptions, and changes in consumer demand.
Which is the approximate average of people living on poverty condition in Cuba?
72%
What economic system is predominantly followed in Cuba
Socialism
What does GDP per capita represent
Average income per person in a country
Which are the main trading partners of Cuba?
Russia, China and Venezuela
What does Hyperinflation stands for?
Hyperinflation is a term to describe rapid, excessive, and out-of-control general price increases in an economy
What is the average salary in Cuba
3849 CUP or 150$
How has Cuba diversified its economy in recent years?
What is by investing in sectors such as tourism, biotechnology, renewable energy, and telecommunications
In recent years, Cuba's GDP growth has been primarily driven by which sector of the economy?
Tourism
What means trade deficit?
An economic condition when a country imports more goods than it exports.
In which month (2023) was the inflation greater?
October or November?
October
What are some factors contributing to poverty in Cuba?
Economic stagnation, limited job opportunities, low wages, disparities in income distribution, government control over the economy, and dependence on external factors such as trade restrictions and sanctions.
How has the opening of relations with the United States impacted Cuba's economy?
increased tourism, investment, and remittances
How much it was worth the Gross Domestic Product (GDP) in Cuba on 2022
633.4 billion dollars
Approximately which was Cuba's trade deficit in 2022
7663 USD Million in 2022.
Approximately which was the average inflation rate from 2005-2023 in Cuba
28%
What is the average percentage of people living ABOVE the line of poverty?
28%
Name some family support policies implemented by the government
The Cuban government has implemented policies to support working families, including maternity leave, childcare services, and flexible work arrangements.