• Submitted by: manso
• Business and Economy
• 12 / 16 / 2010

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HAVANA (Reuters) - Cuba achieved some of its economic goals in 2010, but will have to improve its performance if it wants to emerge from its chronic economic funk, a top government official said on Wednesday.

Economic and Planning Minister Marino Murillo complained about a lack of discipline and other problems in the state-dominated economy in a speech to the Cuban parliament aired in part on national television.

Murillo said Cuba had achieved the level of economic growth planned for 2010, but he gave no figures in the portion of his presentation aired for television.

A year ago in his annual speech to the assembly, Murillo forecast Cuba's economy would grow at 1.9 percent, up from 1.4 percent in 2009.

Production of key agricultural products fell short in 2010, Murillo said, and transportation problems had plagued the sector. The failures meant the government had to spend heavily on importation of food staples including rice and beans.

Murillo projected $1.6 billion would be spent on food imports in 2011, which would contribute to an expected budget deficit of 3.8 percent for the year.

Source: www.theusdaily.com/articles/viewarticle.jsp?id=1291040