The GDP is deceptive in measuring the true development of a country, as it does not consider the amounts devoted to health, educational and cultural development, and social security.

Cuba fulfilled its essential economic and social objectives in spite of the growing and sustained aggression from the United States and the daily adverse condition of the international economy. Cuba raised its efficiency in education and public health, guaranteed a higher level of food for the population and reduced its unemployment level to 3 percent.

Among the principal success of Cuba in 2003 are the substantial increase in citrus, root and green vegetables, bananas, beans, eggs and pork, with each Cuban consuming 3,193 kilocalories and 82.8 grams of protein daily, considerably higher than last year.

There was a growth in national crude oil (2.9 percent), generation of electricity (2.1 percent), industry (excluding sugar) (2.1 percent), communications (5.1 percent), commerce (4.7 percent) and services (4 percent).

Tourism, presently considered the engine of the national economy, registered a 16 percent increase in income and a 12.7 percent increase in the number of visitors - more than 1.9 million people.

Biotechnology generated more than 600 patents for vaccines, recombinant proteins, monoclonal antibodies, medical equipment with specialized software, and diagnostic systems, which sold in more than 40 countries, raising its exports more than 13 percent.

Among the most novel products are: the hemophiliac vaccine for prevention of meningitis and pneumonia in children and the culture stimulator factor and monoclonal R3 antibody for cancer treatment.

Another important triumph for Cuba this year was also in the area of health, wherein the pharmaceutical industry met 67 percent of the basic medication needs.

Information and communication also made significant advances in the development of high technology.

Among those sectors that did not met Cuban expectations was sugar production, because the 2.2 million tons harvested in 2002-2003 brought less income than planned in exports.

Nickel production, in which Cuba is fourth world producer, brought in 4.7 percent less this year, as income is at the mercy of the international market.

New housing construction continued deficient because it was necessary to dedicate great resources to repair hurricane damage. Almost 95,000 houses were reconstructed, most of them in western Pinar del Rio and the Isle of Youth.

The proposed 2004 budget includes social expenses of more than 12 billion pesos (parity with dollar on the official exchange), 37 percent of the Island's GDP, and almost three times the average spent on this by other Latin American governments. Education, health, social security and assistance, home repair, sports and community services will be most benefited.

Some 800 million pesos will be destined to subsidies to maintain costs for the population's basic foods.

The 2004 budget forecasts 20.66 billion pesos in expenditures, 13 percent more than last year, with a deficit estimated at 3.5 percent of the GDP.

(Taken from: Prensa Latina )

---

Best viewed with Internet Explorer browser
800 x 600 resolution
Copyright © Ministry of Foreign Affairs, Republic of Cuba, 2003