Economic+System

Economic System In Cuba, the GDP per capita income is $4,450 and the average monthly salary is $18. Their main exports are nickel/cobalt, oil, and oil derivatives. Other exports include pharmaceutical and boitech products, sugar, tobacco, seafood, citrus, tropical fruits, and coffee. Both of the currencies, the peso and the convertible peso, are regulated by the government. The unenployment rate is 2% and their public debt is 34.4% of GDP. Due to the type of government Cuba has, many of the necessary programs are free or at a very low cost. These include, free education, free health care, universal employment, unemployment compensation, disability and retirement benefits and food, housing, utilities and some entertainment at very low costs. Also, about 90% of the population is employed by the government, while the only private businesses consist of 200,000 private farmers and 100,000 private business owners.

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