BREAKING NEWS: Cuba’s socialist economy that has failed for nearly 60 years continues to fail

Cuba’s communist dictatorship has downgraded their GDP estimates from 2% growth to an even more dismal 1%. Of course, the actual number is probably much lower since the communist Cuban regime is notorious for reporting inflated figures.

Nevertheless, this latest admission of a failing economy by Castro regime officials will certainly catch many Cuba observers by surprise. No one expected a socialist economy that has consistently failed for nearly sixty years to continue to fail under the same socialist economic policies.

Via Reuters:

Communist-run Cuba’s economic growth will come in at around 1 percent this year, compared with the 2 percent previously forecast, due to a fall in exports and tourism revenue, state-run media reported over the weekend.

The Caribbean island’s gross domestic product grew 1.8 percent last year and 0.5 percent in 2016.

Economy and Planning Minister Alejandro Gil Fernandez reportedly told a council of ministers meeting that the lowered GDP growth forecast for this year was due to “less than expected revenues from activities such as tourism, the harvest (sugar) and mining (nickel),” three key revenue sources for Cuba.

Gil said austerity measures, which began in 2016, would continue into 2019. They include cuts in energy and fuel to state companies and reduced imports of consumer goods and inputs for the economy.

Cuba’s economy is notoriously inefficient and dependent on foreign revenues. The government also spends a large amount of its revenue on the country’s free healthcare system, education and other services.

Naturally, Reuters wants to keep their bureau in Havana open so they threw a bone the Castro dictatorship in an effort to make them look somewhat good and noble. Among other “services,” Reuters tell us, Cuba’s communist dictatorship also “spends a large amount of its revenue on the country’s free healthcare system.”

So what does all that cash Cuba’s Castro regime spends on “healthcare” get the Cuban people? Our own Ziva Sahl answers that question: