Cuba’s 2024 GDP deficit is second worst on planet earth, only surpassed by Ukraine

Cuban economist at work in her plush postcolonial office

From our Bureau of Marvelous Utopian Economies with some assistance from our Bureau of Great Achievements in Latrine American Self-Destruction and our Bureau of Unfair Competitions Involving Nations at War With External Enemies and Nations at War With Their Own People

Surprise! Cuba has earned second place on the list of nations with the greatest deficit in its Gross Domestic Product. First place winner Ukraine beat out Cuba by cheating. Members of Castro, Inc.’s oligarchy have complained loudly to the International Monetary Fund (IMF): “this isn’t fair at all . . . Ukraine beat us by launching a war of aggression against Russia and being destroyed in the process . . . How can we compete with such an insane apocalyptic disaster?”

As usual, diaspora economists have put a negative spin on this great Revolutionary achievement. Second place, after all, is a great honor. Arrrgh . . .But they’re looking at the dark side of any Revolutionary triumph, these malcontents and miscreants. Castro, Inc. should hunt down and kill all of these black-hearted party poopers in the diaspora who refuse to see that the U.S. “blockade” entitles Castrogonia to claim first place in all competitions. .

Loosely translated from Diario de Cuba

Cuban economist Pedro Monreal pointed out that the deficit in the Cuban Gross Domestic Product (GDP) in 2024 exceeds that of the rest of the world’s economies, except for Ukraine, a country that has been invaded by Russia.

“The deficit equivalent to 18.5% of Cuba’s GDP in 2024 is, by a wide margin, greater than all the current deficits in the world, with the exception of Ukraine,” the expert, who monitors and interprets official statistics to analyze the economic debacle of the Island.

Regarding the consequences that the high Cuban deficit could bring, Monreal said: “I suppose that in Cuba it is understood that this information is public and that creditors and investors will draw conclusions.” That is to say, the still poor foreign investment that the Cuban Government has attracted could slow down in the face of such a negative indicator.

The Cuban economist offered more details about the diminished position that the Island occupies on a global scale: “Cuba’s deficit of 18.5% of GDP more than doubles Algeria’s international deficit, the second largest after Ukraine. No other deficit reported by the IMF exceeded 8% of GDP. Other countries in conflict (Russia, Niger, Sudan, Yemen) did not exceed 6.2%.”

In response to a user who questioned his observation, Monreal pointed out the consequences of the current Cuban deficit: “Does the risk of debt and investment increase or decrease in a country that, with double-digit inflation, adopts a fiscal policy with the second largest deficit and with the usual practice of covering it with monetary liquidity? Is it a rational economic decision?”

“The problem is that this deficit indicates macroeconomic policy out of control,” said Monreal.

Continue reading HERE in Spanish

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