Why has Cuba been in a deep economic crisis since the early 1990s?

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2026-04-24 20:00

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Cuba has been in a deep economic crisis since the early 1990s primarily due to the collapse of the Soviet Union, which ended the preferential trade agreements and subsidies that had sustained its economy. The loss of these economic ties, combined with the U.S. trade embargo, led to severe shortages of goods and a decline in living standards. Additionally, the country's centralized economic model has struggled to adapt to global market changes, further exacerbating the crisis. The combination of these factors has resulted in long-term economic stagnation and hardship for the Cuban population.

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