Cuba has third worst inflation rate in the world, Venezuela in second place

From our Bureau of Great Socialist Economic Achievements

Castro, Inc. gets a bronze medal in the Hyperinflation Olympics. Add this disaster to the list of plagues bedeviling Castrogonia.

But that’s not all. Inflation in Castro, Inc.’s colony of Venenozuela is even worse. This is bad news for Cuba too, given that Venenozuela is no longer able to offer much aid to Castro, Inc.

Castro, Inc. caused Venenozuela’s economic collapse, as well as its own. This is quite an achievement, crippling two countries simultaneously, one of which has the largest oil reserves in the world. Maybe the time has come for Castro, Inc. to colonize Zimbabwe and claim credit for its colossal hyperinflation. This would give it the opportunity to claim gold, silver, and bronze in the Hyperinflation Olympics.

Annexing Zimbabwe would also allow Castro, Inc. to claim that its so-called Revolution has instantly made every Cuban a trillionnaire!

Loosely translated from Diario de Cuba

Cuba bids farewell to the year 2022 among the three countries with the highest inflation in the world, according to the analysis carried out by the American economist Steve H. Hanke, from the prestigious Johns Hopkins University.

With an inflation of 175%, Cuba settles in the third world position. Venezuela came to occupy the second place that the Island had a few months ago, when in December the inflation rates of the country governed by Nicolás Maduro reached 289%, according to Hanke’s calculations based on data collected on December 1.

“Thanks to the communist regime, Cuba’s economic nightmare grows more terrifying by the day. Today I measure inflation in Cuba at a punitive 141% per year,” he wrote on Twitter regarding the analysis of the full year 2022.

“The value of the Cuban peso is nowhere to be found. Since January 2022, the Cuban peso has lost 71% of its value against the US dollar,” added the economist, who lamented the destruction of the Cuban national currency.

Zimbabwe continues to be in first place in world inflation, with 394%.

According to a BBC Mundo report, in Latin America Cuba is considered a country with “chronic inflation” together with Venezuela, Argentina, Haiti and Suriname. According to data from the Economic Commission for Latin America and the Caribbean (Cepal), Cuba closed the year in the region with an index of 34.2%, behind Argentina with 87.8% and Venezuela with 146%.

Inflation in Cuba qualified last summer as the second worst in the world, after climbing almost ten points in just ten days and breaking the 200% barrier.

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