Transcript Document

Last year, the Cuban
economy
and
its
foreign trade were
adversely affected by
the following factors:
Adverse Weather
Conditions
(HURRICANES)
Impact on the Tourist Industry
2000
2500
1901,0
1400
1948.2
1759.3
2000
1846.2
1515,0
1200
1500
1000
200
1686
1774
400
1603
600
1775
1000
1416
800
1170
Thousands of visitors
1600
2000
0
500
0
1997
1998
1999
2000
Arrival of visitors
Havana
Varadero
2001
Gross Income
Jardines del Rey
N. Camagüey
Canarreos Central Southern
Coast
N. Holguín
Santiago de Cuba
2002
Millions of Pesos
1800
High Oil Prices in the World
Market. ( WTI)
35
29.7
28.87
30
26.95
26.27
24.35
25
23
23
20
23
23
23
26.95
23
23
23
27.43
26.29
28.34
23
23
23
23
20.72
19.68
15
10
5
World Market Price
Cuba's Budgeted Price
r
ec
e
D
m
be
ov
e
N
m
be
r
r
ob
e
O
ct
m
be
r
Se
pt
e
A
ug
u
st
ly
Ju
ne
Ju
M
ay
pr
il
A
M
ar
ch
y
br
ua
r
Fe
nu
ar
y
0
Ja
USD/Bbl
25.5
2001
3.0%
2002
1.1%
Performance of the GDP and
the per capita GDP.
28000
2429
2363
2500
2300
1901,0
25000
2200
21000
1997
1998
24910
22000
23331
23000
27600.0
2099
27274
1515,0
26467
24000
2100
2000
1900
1999
GDP
2000
Per capita
2001
2002
Pesos per inhabitants
2400
26000
23257
Billions of Pesos
27000
2445
The calculation procedure of Cuba’s
GDP does not consider the actual
contribution by the public health and
education services, as well as other
services that are underestimated
because they are free.
It is estimated that a proper inclusion
of this services would double the value
of Cuba’s GDP.
Fiscal Deficit
8
1600
1515,0
7
1400
6
1200
%
5
1000
765.5
4
800
1901,0
3
559.7
611.7
459
672.2
737.5
600
2
1
400
7.4
3.5
2.5
2.0
2.4
2.3
2.4
2.5
3.4
0
200
0
1994
1995
1996
1997
Fiscal Deficit
1998
1999
2000
2001
GDP Fiscal Deficit
2002
MMPesos
1000
Unemployment Rate
8
7,1
6,2
7
6,3
5,4
6
4,1
%
5
3,3
4
3
2
1
0
1997
1998
1999
2000
2001
2002
Exchange Rate
30
Pesos/ USD
25
27
22
20
20
26
20
20
15
10
5
0
1997
1998
1999
2000
Exchange Rate
2001
2002
Infant Mortality Rate
10
9.4
9
per 1000 live births
8
7.9
7.2
7
7.1
6.4
7.2
6.2
6.5
6
5
4
3
2
1
0
1995
1996
1997
1998
1999
Infant Mortality Rate
2000
2001
2002
Life Expectancy at Birth
Country 1994-1995
Cuba
74.8
1998-2000
76.2
2002
170
2002
$5.575
billion
Europe
2002
2%
18%
41%
The
Americas
Asia
39%
Oceania
and
Africa
Countries
%
Spain
13
Venezuela
13
China
11
Canada
8
Netherlands
6
4500
4000
3000
2500
2000
3426.6
4146
500
3217.7
1000
2554.9
1500
1791.2
Millions of Pesos
3500
1998
1999
2000
2001
2002
0
75.3
2002
76.5
2001
71.4
2000
1999
66.5
1998
67.7
61.6
1997
0
10
20
30
40
50
Thousands of tons
60
70
80
15699.8
2002
15301.3
2001
15028.8
2000
14492.2
1999
14148.6
1998
14145.6
1997
13000
13500
14000
14500
Gigawatt / hour
15000
15500
16000
Contractual value of
agricultural products:
$ 252,7 million
CIF value of agricultural
product supplies:
$ 189 million
Companies involved:
Supplying States:
85
34 plus
Puerto Rico
US exports of non-agricultural products
to Cuba are still subject to sanctions.
The sale of agricultural products is
subject to important restrictions.
Export credits are not authorized for
Cuba.
US citizens are not allowed to travel to
Cuba freely.
Cuban exports are not allowed into the
United States.
US dollars cannot be used as a means
of payment.
Cuban boats cannot call on American
ports.
Cuba and US banks are not authorized
to transact directly.
$3 billion.
Scenario:
Elimination of all economic sanctions
against Cuba.
Authorization of a two-way trade.
Possibility for US investment in Cuba.
The development of a Cuba-US
bilateral trade would also lead to:
US
sales
of
agricultural
products amounting to no less
than $1 billion.
The creation of additional jobs
in both countries.
A further growth of both the
Cuban economy and the States
that trade with Cuba.
The possibility for US investors to
invest in Cuba.
The lifting of the sanctions
imposed on Cuba would be
beneficial for both countries.
Geographical proximity and
Cuba’s availability of natural
resources and highly qualified
labor force are advantages for
the US investments in Cuba.
The Cuban purchases over
the last 15 months have
shown that Cuban is
willing and ready to
normalize relations with
the US.