The Puerto Rico Financial Institutions and Insurance commissioners defended their respective budgets during a hearing before the Senate Finance Committee Monday, when they requested $15.2 million and $10.8 million, to run their respective agencies.
The Puerto Rico Treasury Department is currently working on a number of enforcement and automation initiatives to increase the island’s sales and use tax uptake from the current 68 percent while attacking the government’s fiscal shortfall, agency Secretary Melba Acosta told participants of the Puerto Rico Credit Conference Friday.
Gov. Alejandro García-Padilla, flanked by members of the current and previous administration, inaugurated Tuesday the second phase of the Bahía Urbana redevelopment project in Old San Juan, between Piers 7 and 8, at a cost of $40 million. The new facilities will create 100 direct and indirect jobs.
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