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Finance of Cuba

The monthly minimum wage in Cuba is USD 9. Cuba has a national debt equal to 127.9% of the country's gross domestic product (GDP) as measured in 2012. In relation to consumer prices, the inflation rate in Cuba is 6%. The currency of Cuba is the Cuban Peso. The plural form of the word Cuban peso is pesos. The symbol used for this currency is $ and is abbreviated as CUP. The Cuban peso is divided into centavos; There are 100 in one peso. Every year, consumers spend around US$83,013 million. The ratio of consumer spending to GDP in Cuba is 0.11%, and the ratio of consumer spending to world consumer market is 23.93%. Corporate tax in Cuba is 30%. Personal income tax ranges from 15% to 50% depending on your specific situation and income level. VAT in Cuba is 20%. In 2013, Cuba received $87.8 million in foreign aid. In 2014, foreign aid totaled $86.8 million.

Gross domestic product
Total Gross Domestic Product (GDP) calculated as Purchasing Power Parity (PPP) in Cuba is US$234 billion. The gross domestic product (GDP) calculated as purchasing power parity (PPP) per capita in Cuba was last at 20,367 US dollars. PPP in Cuba is considered good compared to other countries. A good purchasing power parity indicator suggests that citizens in this country rarely find it difficult to buy local goods. Local goods can include food, shelter, clothing, healthcare, personal hygiene, essential furnishings, transportation and communications, laundry, and various types of insurance. Countries with good purchasing power parities are relatively safe locations for investments. The total gross domestic product (GDP) in Cuba is 78.694 billion. Based on this statistic, Cuba is considered medium-economic. Middle economy countries support an average number of industries and investment opportunities. It shouldn't be too difficult to find worthwhile investment opportunities in mid-sized economies. The gross domestic product (GDP) per capita in Cuba was last at 6,849,459 US dollars. The average citizen in Cuba has a very high level of wealth. Countries with very high per capita wealth have a longer life expectancy and a very high standard of living. There are highly skilled workers in many industries and labor is very expensive in these countries. Very wealthy countries offer safe investment opportunities as they are often backed by a diverse and thriving financial sector. The annual GDP growth rate in Cuba averaged 1.3% in 2014. According to this percentage, Cuba is currently experiencing modest growth. Modest growth countries offer safe investment opportunities; Their expanding economy suggests that businesses, jobs and incomes will grow accordingly.