Puerto Rico Gov. Alejandro García-Padilla presented Thursday a consolidated budget of $29 billion and an operating budget of $9.83 billion for fiscal 2014, representing a $750 million increase when compared to the current budget, which he said will be covered with new revenue.
The second Economic Development Summit took place at the Puerto Rico Convention Center Tuesday, when members of Gov. Alejandro García-Padilla’s economic team summarized what agencies have been up to since January to further the administration’s agenda to spur private-sector jobs and activity.
Puerto Rico Food distributor Pedro Barba e Hijos Inc., Humacao drugstore owner Manuel Mediavilla Inc., and developer Joseph McCloskey-Diaz — who was involved in a highly-publicized mortgage fraud scheme in 2009 — were among the most recent commercial bankruptcy filings, with upward of $20 million in combined debt.
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