Its income distribution compared favorably with that of other Latin American countries, although "available data must be viewed cautiously, and assumed to portray merely a rough approximation of conditions at the time" according to Susan Eckstein. Īt the time of the Cuban Revolution of 1953–1959, during the military dictatorship regime of Fulgencio Batista, Cuba GDP per capita was ranked 7th in the 47 economies of Latin America.
Cubans receive government-subsidized education, healthcare, and food subsidies. Housing and transportation costs are low. As of 2012, the country's public debt comprised 35.3% of GDP, inflation (CDP) was 5.5%, and GDP growth was 3%. In 2019, Cuba ranked 70th out of 189 countries on the Human Development Index, placed in the high human development category. Investment is restricted and requires approval by the government. As of 2000, public-sector employment was 76% and private-sector employment (mainly composed of self-employment) was 23%, compared to the 1981 ratio of 91% to 8%.
Foreign direct investment in various Cuban economic sectors increased before 2018. In the late 2010s, private property and free-market rights along with foreign direct investment were granted by the 2018 Cuban constitution. Following the fall of the Soviet Union in 1991, the ruling Communist Party of Cuba encouraged the formation of worker co-operatives and self-employment. Most of the labor force is employed by the state. The economy of Cuba is a mixed command economy dominated by state-run enterprises. All values, unless otherwise stated, are in US dollars.