Havana, Dec 29, 2005. (Prensa Latina) The Cuban economy reached an unprecedented growth that harmonically improved people´s quality of life in 2005, irrespective of severe drought and monster hurricanes.
Cuba´s GDP stood at 11.8 percent, a remarkable figure considering stepped-up US hostility and high oil prices.
Rising exports and good trade relations with China directly contributed to the current economic performance of the Caribbean island.
Nickel, oil and transport investments are in motion with China, together with large credit dealings, and well as with Venezuela, part of the Bolivarian Alternative for the Americas, which has become a driving force of the Cuban economy.
Services have also played their role, accounting for over 50 percent impact on the GDP, and new vistas open by tourism, which set a record high of 2.3 million tourists.
Cuba is also identifying alternative financing sources like energy saving and the efficient use of resources.
There is also an active fight against waste and diversion of state resources, responding strongly to a call made by President Fidel Castro.
The Cuban economic model, free of the International Monetary Fund, has nothing to do with consumerism but it has turned into a means to improve the living conditions of workers.
Presently, the unemployment rate is below two percent, and labor, social assistance and security policies benefit the entire population. Five million citizens recently received raises in wages, pensions and social assistance.
In addition, electro-energy system projects are implemented based on energy conservation and efficiency, which is vital for a world increasingly losing non-renewable energy sources.
However, hurricanes and the drought caused millions in losses and forced the State to use large amounts of money in recovery.
This small Caribbean island still lacks resources and faces financial liquidity issues, but is still far from the Special Period of the 1990s, which is starting to become a thing of the past.