State investment-as the name indicates, involves the allocation of resources by the state to certain entities or areas in order to develop an activity. In 2012 Cuba made a plan with the economy projected to 2016, with the fundamental premises of accelerating investments to generate liquidity and increase savings.
The National Bureau of Statistics and Information (ONEI) of Cuba published in March of this year a summary in this regard, entitled Investment. Selected indicators. The report shows the monies executed in the period between January and December 2012, compared, fundamentally, to the previous year.
The material helps to assess the behavior of the investment process in this period and also to look at their evolution in recent years (2008-2012). The separation of the indicators by province allows the identification of areas where more resources are concentrated and its economic purposes.
“Investments. Selected indicators” illustrates the average increase rate of investment and identifies the most significant one, by year. Thus we have that in 2008 this rate reached the top in the period, decreased significantly in 2009 and continued to do so until 2010. The following year a slight recovery soared, held until December 2012. In all cases, Construction and assembly enjoyed the highest amounts.
Over the previous year, in 2012 there was a visible increase in investment for Transportion, storage and communications; Electricity, gas and water, also enhanced were public administration, defense and social security, and there was a slight increase in hotels and restaurants. On the other hand, the amount allocated to the construction and business services, real estate and rental activities, decreased.
Activities for which data are recorded:
Agriculture, hunting and forestry
Mining and quarrying
Manufacturing (except sugar industry)
Electricity, gas and water
Trade, repair of house appliances
Hotels and restaurants
Transport, storage and communications
Business services, real estate and leasing activities
Public administration, defense, social security
Science and Technological Innovation
Public health and welfare
Culture and sports
Other community service activities, personal associations
Definition of the main indicators that the publication includes:
Execution of investment: Refers to the physical realization of the investment (whether registered or not financially).
Values are expressed in millions of pesos and correspond to the sum of the values in local currency and hard currency (the latter, according to the official exchange rate for entities).
Components of Investment: Includes all referred to the construction and assembly, equipment and others.
Construction and assembly: It covers the entire work done on creating a new building, road work, water, sea, etc.., And the installation of transmission and distribution of electricity and communications. It includes the assembly of equipment and machinery.
Equipment: Considered all the equipment acquired or constructed for the investor, whether or not they require assembly work. Includes domestic production or imports (including donations) and can be technological, energy, freight, transport, communications or other. It also includes the purchase of furniture.
Others: It includes all investment items that do not apply to construction, to equipment or to assemble them. Among these works are the costs of preparation, training, technical and project documentation, promotion and marketing, administration and expenses required for testing and start-up. It includes aldo geological prospecting, drilling for oil and gas; accumulation in agriculture, forestry and livestock, provision of books, works of fine and applied arts and other valuables, animals for exhibition; tools for enabling initial investment and working capital increased during the period specified in the opinion of approval of the Feasibility Study.
Basic funds put into operation: the value is entered for all objects of work, or part thereof, as well as technological equipment or not (including donations) that have been put into operation during the said period, regardless of the investor provided the completion certificate submitted by the manufacturer or its record as a basic means.
Basic Fund Performance: Indicates the efficiency of the investment process, as long as its value is bigger. It is obtained by dividing the amount of Basic Funds in Operations in a given period by the total value executed on it.