What was Cuba’s special period after the collapse of the Soviet Union?

The "special period" (período especial) refers to a time of severe economic crisis and hardship in Cuba that began in the early 1990s following the collapse of the Soviet Union.1

Prior to 1991, the Soviet Union provided substantial economic aid and subsidized trade, which were crucial to the Cuban economy. When this support vanished, the island nation experienced a catastrophic economic decline, with the economy shrinking by 35–50 percent between 1989 and 1993.2345

Key characteristics of this period included:

• Widespread Shortages: The country faced critical deficits in food, fuel, electrical power, and transportation.314
• Economic Policy Shifts: To mitigate the crisis, the government began to loosen its rigid control over the economy. This included permitting the circulation of U.S. dollars as legal tender in 1993, encouraging foreign investment (particularly in tourism), and allowing limited private enterprise, such as farmers' markets and family restaurants.235
• Economic Diversification: The government sought to reduce its heavy reliance on sugar exports by promoting tourism and relying on remittances from Cubans living abroad as a major source of income.23

By 1994, these measures helped the government stabilize the economy and foster some growth.5