Cuba at 50 - Raul Castro

Gwalgen Dent — Tue, 17 Feb 2009 02:14:49 +0000

Raul Castro Ruz speaks in Cuba on Dec. 27th, 2008

By Raul Castro Ruz

We are just a few days away from the end of year in which the country has faced difficult challenges. The ups and downs of a world economy in sustained decline have been compounded by increasingly unpredictable and devastating natural phenomenon.

Recovery from the damage caused by the three most recent hurricanes is generally proceeding satisfactorily. Nevertheless, we should be aware of the magnitude of this task, particularly the recovery of homes. More than 500,000 homes in 35 municipalities have been affected by the hurricanes this year, plus 70,000 in another 12 damaged by other events in previous years. Of those figures combined, 77% remains to be repaired or completely rebuilt.

The adverse economic reality present during virtually all of 2008 forced us to give secondary priority to studying and adopting decisions on other important matters.

For example in terms of foodstuffs, this year the country had to pay $907 million more than in 2007; $840 million of that figure is related to higher prices. They have gone down in recent weeks, but prices for our main export lines have sunk even lower.

The average price for nickel in 2008 has been 41% lower than in 2008. Prices for sugar and sea foods have likewise dropped, along with other Cuban exports.

The financial crises that exploded in the United States has evolved rapidly into the global economic crisis that comrade Fidel predicted at least a decade ago, the most profound crisis in almost 80 years.

Despite all these difficulties, the economy grew, although by less than what was planned, which was decisively influenced, as I mentioned previously, by the damage from the hurricanes, amounting to a total of close to $10 billion; in other words, about 20% of the gross domestic product for this year.

anniversary

Cuba at 50 - Raul Castro