Cuba has suffered for long due to unsuitable macro economic principles that serve to discourage investors from investing in the country rather than encourage them. Cuba has also suffered due to restriction of trade with the United States, because of political reasons. This has adversely affected Cuba's economy, leading to its economic growth, fluctuating over the years.
The government interference is also adversely affecting the economy since most of the macroeconomic policies applied are weak. They are also aimed at benefiting the people who operate business activities in the public sector at the expense of the private sector. The government also lacks a clear vision for the future, in terms of economic development and growth goals.
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1.2 CHAPTER 1
This chapter aims at analyzing the general facts about Cuba. These include a brief history, location, general economy, imports, exports, importing and exporting partners among other facts. It also aims at analyzing the employment levels, source of employment for the majority of the people, goods produced by local industries and other basic facts about Cuba as a country.
1.4 An overview of Cuba.
Cuba is a country that is located on the Caribbean islands, and is reputed to be the most varied, beautiful and largest of all the islands in the Caribbean. On its southern side it is bordered by the Caribbean and the Western side, by the Gulf of Mexico. The northern and eastern side is surrounded by the Atlantic ocean.
The main imports for Cuba are machinery, food, chemicals and petroleum. The importing partners are Venezuela, Canada, China, Spain, Mexico and Italy. The main exports are medical products, sugar, tobacco, nickel, coffee and citrus. The country also produces agricultural products that include tobacco, sugarcane, coffee, citrus, beans and potatoes.
1.5 Problem statement
Cuba has an unfavorable balance of trade and low level of economic growth. There are also high levels of unemployment and very low levels of foreign investment. The government interferes with most business activities. The political environment is also characterized by low levels of democracy. This paper aims at analyzing the impact of all these factors on the economic environment for Cuba and recommendations on improving the same.
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