29 July 2010

CUBA: $410 Million Budget Deficit Falls Far Below Forecast.

AP/ WILL WEISSERT/     Cuba reported a budget deficit of $410 million usd for the first half of 2010 but it was far below the official forecast of $1.7 billion usd. Officials credit the lower deficit to higher taxes, improved collection methods, and pushing back the retirement age from state jobs while upping the amount government employees contribute to, and receive from, state pension funds.