The Economy of Cuba
The 1959 Revolution and Nationalisation
After the 1959 revolution, Fidel Castro's government nationalised sugar plantations, banks and foreign-owned firms, reshaping the economy.
A break with the past.
Land reform
Big estates were redistributed or converted into state farms.
Nationalisation
American-owned companies and most industries were taken over by the state.
Social spending
Literacy campaigns and expanded healthcare were priorities.
Consequence
The US responded with economic pressure, leading to the embargo.
A literacy drive
Volunteers taught hundreds of thousands to read in 1961.
Ignoring the social gains of the early revolution
They were real.
Key takeaways
- The revolution came in 1959.
- Industries were nationalised.
- Literacy and health were priorities.
- The US responded with pressure.
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