Well, perhaps not.
According to this article in The Financial Times, economists outside the island are highly sceptical about the statistics issued by the regime, which claims the economy has been growing at somewhere between seven per cent and 12 per cent over the past three years or so.
“History also suggests the value of formerly communist countries’ assets is often grossly overestimated,” the article says, pointing out that East Germany’s economy was considered by the United Nations to be the 10th largest in the world before the fall of the Berlin Wall in 1989.
In fact, it soon became clear that the East German economy was not worth the USD1,000 billion claimed by its Communist rulers but had a net liability of USD280 billion.
So, what about Cuba?
Based on the current exchange rate for the convertible peso, the paper estimates that the Cuban economy could be worth about USD2.3 billion – or about half the worth of Haiti’s economy.