Cuban Electric Union

Cuba has a developing command economy dominated by state-run enterprises. The Communist Party of Cuba maintains high levels of public sector control and exerts significant influence over the Cuban economy. The island has a low cost of living, inexpensive public transport, as well as subsidized education, healthcare, and food. Cuba's economic growth has historically been weak due to high labour emigration, import dependency, an ongoing energy crisis, foreign trade sanctions, and limited tourism in Cuba. The dual economy of Cuba has led to a series of financial crises. Cuba is one of the poorest countries in Latin America and the Caribbean with high inflation, collective poverty, and food shortages. It is heavily indebted due to its large public sector and high deficit spending, with a global sovereign debt burden.