Cuba to Consolidate its Financial Balance
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- Business and Economy
- Politics and Government
- 12 / 24 / 2008
Rodriguez also talked about the unstable domestic and foreign financial balance of the island, product of the unexpected rise of prices during 2008 with an increase in 53 percent in fuel and twice that number in food, just to mention a few.
On the other hand, he pointed out, the values of nickel, sugar and products of the sea dropped, which diminished the incomes for national economy, adding the impact of three powerful hurricanes with almost 10 billion dollars in damage to the economy, which meant two percentage points of the GDP (Gross Domestic Product).
Rodriguez insisted that despite natural disasters, 2008 was a good year for Cubans, registering an accumulated growth of 6 percent during the first two quarters, finishing with a 4.3 percent GDP growth by December.