Cuba: World’s 156th freest Economy

Does Cuba have it’s people under economic slavery? Is 156th the least free economy in the world next to North Korea?

Cuba’s economy is 29.7 percent free, according to our 2007 assessment, which makes it the world’s 156th freest economy. Its overall score is 2.5 percentage points lower than last year, partially reflecting new methodological detail. Cuba is ranked 29th out of 29 countries in the Americas, and its overall score is so low that it is less than half of the regional average. As an avowedly Marxist state, Cuba scores relatively well in very few areas of economic freedom. Havana performs least egregiously in trade freedom and monetary freedom. Cuba has a moderate average tariff of 10 percent but very restrictive non-tariff barriers to trade. Inflation is moderate, but government efforts to control all kinds of prices are pervasive.