Driven by a drop in payroll and the implementation of a fiscal improvement program at the Education Department, the Office of Management and Budget said Wednesday that Puerto Rico’s expenses so far this fiscal year are under budget and reflect a 6 percent year-over-year decline.
The Puerto Rico Public Buildings Authority’s high level of indebtedness — estimated at $4.2 billion — and whether it has repayment capacity, could make it an “easy target” for credit ratings agencies, local analyst firm REOF Capital concluded in a recently released report.
The Puerto Rico Public Private Partnership Authority recently announced the appointment of several advisory firms for key projects in the pipeline, namely, the commuter train from Caguas to San Juan, a new women’s correctional facility, a new men’s correctional facility, and the conversion to natural gas of the Puerto Rico Electric Power Authority plants.
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