William LeoGrande, Professor of Government at Washington, D.C.’s American University and a noted expert on Cuba, has analyzed the repeated assertion by many, including this blogger, that 60% of the Cuban economy is controlled by the Cuban military’s holding company Grupo de Administración Empresarial S.A. (GAESA).
LeoGrande sets forth his analysis and concludes that GAESA’s revenue constitutes 21% of total hard currency income from both state enterprises and the private sector, 8% of total state revenue, and just 4% of GDP (Anuario Estadístico 2015).
This suggests that President Trump’s recent announcement of a future regulation banning U.S. companies from engaging in business with such Cuban entities may not have as a significant adverse effect on the Cuban economy as originally thought.
As always, comments of agreement or disagreement are encouraged.
 LeoGrande, Does the Cuban Military Really Control Sixty Percent of the Economy, HuffPost (June 28, 2017).