15 February 2007

Cuba reports 12.5% GDP growth in 2006

But they calculating growth somehow including social services.

from wsj.com,

Rodriguez acknowledged that the communist government's method of counting output "has an influence" on the high rate of growth. Cuba includes social services not counted in U.N.-standard measures of economic output.

But he said that difference "is not the only thing that determines those rates of growth." He said that if social services and commerce were dropped from the count, Cuba still would have shown 9.5% growth last year.

It claimed growth of 11.8% in 2004.

Cuba was aided last year by high prices for nickel and cobalt and by a continuing flow of tourists.

Rodriguez put the number of tourists for 2006 at 2.22 million - a slight drop from the 2.3 million Cuba reported for 2005 to the Caribbean Tourism Organization.