A Cuban resident on the island has gone viral on social media by showcasing in a video what she was able to buy with 300 US dollars, which is equivalent to about 109,000 Cuban pesos at the current rate in the informal market.
"I spent 300 dollars on food while living in Cuba; at the exchange rate in national currency, that's 109 thousand pesos," explained the user @sheyreyes03 in a video posted on her TikTok account, where she showcases the products she managed to buy one by one.
Among the food items and household products shown in the clip are a carton of eggs, two cans of condensed milk, four liters of oil, two floor blankets, a bottle of ketchup, a kilogram of powdered milk, black and red beans, yogurt, sausages, chicken gizzards, ten pounds of beef, chicken breasts, a box of chicken, and ten pounds of ground beef.
"Look closely at what can be bought with 300 dollars in Cuba. That’s all I could afford," the young woman states as she displays the products on a table.
Although it is not specified whether all the products were purchased in MLC or in the informal market in pesos, the video highlights the high prices of food on the island, amidst rising inflation and an increasingly reduced purchasing power for most Cubans.
The post has generated numerous comments on social media, where many users express surprise at how little can be purchased with such a significant amount for an average Cuban, whose monthly state salary is around 3,000 pesos (less than 10 dollars at the informal exchange rate).
In a context of scarcity, partial dollarization of the market, and insufficient wages, videos like this have become a common means to denounce the severe economic crisis the country is experiencing.
Frequently Asked Questions about the Economic Crisis in Cuba and the Cost of Living
What products can you buy with 300 dollars in Cuba?
With 300 dollars in Cuba, equivalent to about 109,000 Cuban pesos in the informal market, one can purchase items such as a carton of eggs, two cans of condensed milk, four liters of oil, beans, yogurt, sausages, chicken gizzards, beef, and chicken breasts. This amount of money, while considerable, only allows for the purchase of a limited number of products, highlighting the high prices and inflation on the island.
How does inflation affect wages in Cuba?
Inflation in Cuba has led to a significant increase in the prices of food and basic goods, which has eroded the purchasing power of state salaries. The average salary of a state worker in Cuba, which is around 3,000 Cuban pesos, is insufficient to cover basic needs, creating a situation of economic precariousness for the majority of the population.
What is the impact of partial dollarization in Cuba?
Partial dollarization in Cuba has increased social inequalities, as Cubans without access to foreign currencies face greater difficulties in acquiring basic goods and services. The dependence on remittances and the use of foreign currencies like the dollar have exacerbated the economic crisis, leaving many families in a state of extreme vulnerability.
What challenges do Cuban retirees face with their pensions?
Cuban retirees face significant challenges due to minimum pensions of approximately 1,500 Cuban pesos (equivalent to about 4 dollars). This amount is clearly insufficient to cover basic needs, such as food and essential services, forcing many retirees to seek alternative means of livelihood.
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