Tuesday, July 24, 2012

Cuban GDP grew 2.1 pct in 1st-half 2012

HAVANA, July 23 | Tue Jul 24, 2012 1:17am IST
(Reuters) - Cuba's gross domestic product grew 2.1 percent in the first half of the year compared with the same period in 2011 and the communist-ruled country has continued to post a positive trade balance, Economy Minister Adel Yzquierdo said on Monday.

The official Prensa Latina News Agency, reporting on a closed-door meeting of the Cuban National Assembly, said the overall results were considered positive.
Government officials have said the goal is to achieve 3 percent GDP growth in 2012.

The economy grew 2.7 percent in 2011 despite tough austerity measures imposed by President Raul Castro beginning in 2009.

Yzquierdo said trade continued to perform positively, without giving any details. Cuba reported a $4 billion trade surplus in 2011.

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