Economic factors of the

USSR and Cuba

JUAN DAVID VIVAS
HISTORY HL
The Russia of the Romanov’s
• By 1914-1917 Russia were involved in the
first world war.
• Due to this period of civil
• The people were tired of not having food and war, the economy faced
land.
challenges such as inflation,
• The people did not want to fight in the war
anymore. industrial eruption, and
• By 1917 the tzar Nicholas Romanov abdicated agricultural decline.
the end of the autocracy and decided to divide
the government into two parties: 1. The
provisional government (Trotsky) and 2.
Petrograd Soviet (Bolsheviks – Lenin)
Lenin
• The new Economic Policy (NEP): was a
temporary economic policy by Vliadimir
Lenin in 1921 to help to stabilize the
soviet economy, this include:
• 1. Co-existence of private and public
sectors
• 2. Agricultural production: the
opportunity to sell portions of the land to
the government in search of monetary
compensation
• 3. Reestablishing a stable currency
Stalin (The great jump in economy
• The implementation of rapid • The plan had several
industrialization successes such as an
• The implementation of state increase on the capital goods
control over production (158%), an increase in the
consumer goods (87%), and
• The objective of
total industrial output or
collectivized agriculture
GDP (118%).
• The Five-Year Plans focused
on creating rapid and large
1960’s to
1970’s
• Era of stagnation:
Economy remains the
same and have lack of
innovation under the
leadership of Brezhnev.
• A decline in economic
performance
1980-1991 The dissolution of the USSR
• This was a period of
inefficiency, shortages, and
lack of innovation.
• The reforms of Perestroika
and Glasnot
• Perestroiska: Reforms to
improve the Soviet Union’s
failing communist command
• Perestroiska included:
loosening price controls,
developing of
entrepreneurship, and
encouraging the imports and
exports of goods
• Glasnot included: Criticism
of government officials, free
dissemination of news and
Cuba
Boom in sugar industry (1920’s)
• Cuba experiences growth by • Great depression: Led to
the sugar industry. the decline in sugar prices.
• This created a relevant
exports of sugar from Cuba
to the United States.
Cuban Revolution
• Fidel Castro nationalizes key • The Alliance between the
industries: sugar, oil USSR and Cuba, led to the
refineries and foreign-oned provision of subsidies and
enterprises economic support to the
• Redistribution of land Cuban economy
• Implementationn of socialist
economic policies
Crisis
• Embargo: the United States • To address this situation,
imposes a trade embargo on Cuba decided to open
Cuba due to their alliance barriers to the foreign
with the USSR, this isolate investment and promotion of
the Cuban economy. tourism.
• Due to the collapse of the
USSR, the economy of Cuba
undergoes due to shortages
in food, fuel and other
Bibliography
Historia de Rusia, Moscú y la URSS resumen. Línea del tiempo, video. (s. f.). https://www.tumoscu.com/informaci-n-til/historia.html

https://youtu.be/S3Jkqqlpibo?si=GTqjolT3xbT22rY-
The Editors of Encyclopaedia Britannica. (2024, 9 febrero). Glasnost | Perestroika, Gorbachev, Reforms. Encyclopedia Britannica. https://www.britannica.com/topic/glasnost

The Soviet economy, 1917-1991: Its life and afterlife. (2017, 7 noviembre). CEPR. https://cepr.org/voxeu/columns/soviet-economy-1917-1991-its-life-and-afterlife

https://youtu.be/S3Jkqqlpibo?si=9x-PqxEWJ7SDbZPX
https://youtu.be/KOK1TMSyKcM?si=vo5g6Mg9cuigDbEe