Cuba GDP Grow Shows Economy Strength
The 11.8 percent increase of Cuba´s GDP in 2005 has proven the strength of the Cuban economy, which keeps going up, according to local experts.

The remark was made by Economy and Planning Deputy Minister Alfonso Casanova, who said that growth benefited the entire population, irrespective of bad climatic conditions, the US blockade and high oil prices at the international market.

The damage caused by three hurricanes that hit Cuban in 2005 amounted to over 2.3 billion USD, and that of a severe drought stood at 1.3 billions, Casanova pointed out.

He said the tight US restrictions on the small Caribbean island left a 1.8 billion dollar loss last year, taking the damage caused in over four decades to 82 billions.

According to the vice minister, construction (11.4 percent), transport (7 percent), communications (8 percent) and trade (4 percent) registered the largest rise.

He asserted that an energy revolution including the modernization and restoration of thermoelectric power stations, and the improvement of freight transportation, especially railway and port ones, are in motion in Cuba.

Casanova predicted a 72 percent investment increase in sectors such as house construction, energy, tourism and nickel production in 2006, while imports will drop by 1.5 percent.

National Assembly´s Economic Commission Chairman Osvaldo Martinez noted that Cuba is currently engaged in the development of human resources.

National Statistics Office Chief Oscar Mederos termed the GDP growth important but made it clear that it did not show the whole economic development of a nation.