y, 2630 16th Street NW, Washington, DC 20009; telephone: [1]
(202) 797-8518
Diplomatic representation from the US: none; note - the US has an
Interests Section in the Swiss Embassy, headed by Principal Officer
Vicki HUDDLESTON; address: USINT, Swiss Embassy, Calzada between L
and M Streets, Vedado Seccion, Havana; telephone: 33-3551 through
3559 (operator assistance required); FAX: 33-3700; protecting power
in Cuba is Switzerland
Flag description: five equal horizontal bands of blue (top and
bottom) alternating with white; a red equilateral triangle based on
the hoist side bears a white, five-pointed star in the center;
design influenced by the US flag
Cuba Economy
Economy - overview: The government, the primary player in the
economy, has undertaken limited reforms in recent years to stem
excess liquidity, increase enterprise efficiency, and alleviate
serious shortages of food, consumer goods, and services, but
prioritizing of political control makes extensive reforms unlikely.
Living standards for the average Cuban, without access to dollars,
remain at a depressed level compared with 1990. The liberalized
farmers' markets introduced in 1994, sell above-quota production at
market prices, expand legal consumption alternatives, and reduce
black market prices. Income taxes and increased regulations
introduced since 1996 have sharply reduced the number of legally
self-employed from a high of 208,000 in January 1996. Havana
announced in 1995 that GDP declined by 35% during 1989-93 as a
result of lost Soviet aid and domestic inefficiencies. The slide in
GDP came to a halt in 1994 when Cuba reported growth in GDP of 0.7%.
Cuba reported that GDP increased by 2.5% in 1995 and 7.8% in 1996,
before slowing down in 1997 and 1998 to 2.5% and 1.2% respectively.
Growth recovered with a 6.2% increase in GDP in 1999 and a 5.6%
increase in 2000. Much of Cuba's recovery can be attributed to
tourism revenues and foreign investment. Growth in 2001 should
continue at the same level as the government balances the need for
economic loosening against its concern for firm political control.
GDP: purchasing power parity - $19.2 billion (2000 est.)
GDP - real growth rate: 5.6% (2000 est.)
GDP - per capita: purchasing power parity - $1,700 (2000 est.)
GDP - composition by sector: agriculture: 7%
industry: 37%
services: 56% (1998 est.)
Population below poverty line: NA%
Household income or consumption by percen
|