Thursday 2 February 2012

"Cuba - Economic outlook:

Australian government, has changd its 'tune' on Cuba; this is from DFAT -
"Having averaged 10.2 per cent GDP growth for several years, growth decelerated to 1.4 per cent in 2009 following the global financial crisis and three damaging hurricanes. A renewed upward trend began in 2010, with GDP growth of 2.1 per cent, forecast to reach 3.5 per cent in 2011. Growth sectors of the economy are tourism mining, energy, telecommunications and manufacturing sectors. Offshore oil exploration is underway in association with Chinese and Norwegian investors. A new oil refinery and a tanker port are being built in anticipation of significant deposits, which if found should revitalise the Cuban economy within five years." Tim Anderson

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