Cuban economy grew 4,3 percent this year in respect of 2007, despite the devastating passage of three hurricanes and external factors like high fuel and food prices, said Cuban Economy Minister Jose Luis Rodriguez today, in Havana.  
    
Following his participation at the Cuban Parliament’s Economic Affairs Commission, the Cuban government official told reporters that the impact by hurricanes Gustav, Ike and Paloma alone lowered by two points the country Gross Domestic Product, which had reached 6,0 percent at the end of the firs half of the year.  

Rodriguez said that productivity grew 2,6 percent, respect to the average salary with 1,5 percent; for the first time such a relationship reverted, which reveals favorable results of efforts in that direction, though there are still potentials to exploit.  

The Cuban government official explained about the negative impact by increasing prices this year on Cuban economy by citing fuel prices, which grew by 53 percent, as well as food prices. That situation forced the country to spend extra amounts of resources, he said.

The Cuban Economy and Planning Minister pointed out that on the other hand other prices went down like those of nickel, sugar, seafood and other Cuban export products.   

Rodriguez warned that the country will need to maintain internal and external financial balance in 2009 and create contingency reserves amidst the uncertain international reality.

The country is expected to look forwards to a productive economy next year, with emphasis on investment in the fields of industry, agriculture, tourism and other services in order to create values, the minister concluded.