P.R. Treasury collects $776.6M, $7.4M below projections
March 21, 2017
Puerto Rico Treasury Secretary Raúl Maldonado said Monday that net revenues recorded in the General Fund totaled $776.6 million in February.
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Deal with China-based co. to spur tire recycling project
March 20, 2017
The Department of Economic Development and Commerce announced Sunday the signing of an agreement of understanding between a local and a China-based company to develop recycling projects with an associated investment of $20 million.
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Treasury: Medicinal cannabis could net $14M in revenue
March 15, 2017
A framework for the legal sale of medical cannabis would generate a new source of revenue for Puerto Rico, to the tune of $14 million a year in sales tax revenue for the Treasury Department, an agency official told lawmakers Tuesday.
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Ample reactions after Oversight Board OKs fiscal plan
March 14, 2017
Representatives from a cross-section of the economy expressed their opinions Monday in the wake of the the Financial Oversight and Management Board for Puerto Rico approval of the fiscal plan the island’s government must follow to shore up liquidity and fund essential services.
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González promotes manufacturing incentives for P.R.
March 13, 2017
Puerto Rico’s Resident Commissioner in Washington, Jenniffer González-Colón, has filed legislation to extend indefinitely the application of Internal Revenue Code Section 199 in Puerto Rico, together with co-sponsors congressmen Carlos Curbelo (R-Florida 26), John Lewis (D-Georgia 5) and José Serrano (D-NY 15).
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Congress moves bill protecting investors in P.R.
March 10, 2017
U.S. Congressional Committees moved Thursday to close a decades-old loophole that critics say has caused significant financial losses for many Puerto Rican investors and retirees.
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Gov’t suspends $1.8B in special assignments, tax credits
March 8, 2017
The government of Puerto Rico released an administrative order Tuesday suspending some $1.8 billion in special assignments and tax credits, in an attempt to bridge budgetary gaps.
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Planning Board revises data for ’16; P.R. GDP drops 1.1%
March 6, 2017
The Puerto Rico Planning Board revised the island’s macroeconomic data for the end of fiscal 2016, reflecting a decrease in the Gross Domestic Product of 1.1 percent.
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Moody’s: Recent changes at PREPA raise uncertainty
February 28, 2017
The expiration of the Puerto Rico Electric Power Authority's contract with the firm leading the utility's restructuring efforts has increased uncertainty for bondholders, Moody’s Investors Service said in an analysis released Monday.
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EDB chief presents formula to promote local SMEs
February 23, 2017
The Economic Development Bank has a specific agenda it will follow to promote local small and mid-sized enterprises, including the creation of a training institute for entrepreneurs, agency President Luis Burdiel-Agudo said.
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Gov’t agencies, towns have until Mar. 31 to propose P3s
February 22, 2017
The Public-Private Partnership Authority issued a reminder Tuesday to central government agencies and Puerto Rico mayors of the Mar. 31 deadline to submit their proposals for potential Public Private Partnerships for evaluation.
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Moody’s: PREPA still open to consensual restructuring
February 3, 2017
Recent events related to the ongoing negotiation between the Puerto Rico Electric Power Authority and its creditors, including an extension through March 31 of the restructuring support agreement, suggests there’s still room for consensual accords, Moody’s Investors Service said in an analysis released Thursday.
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P.R. Trade spells out plans to boost local businesses
February 3, 2017
In his first presentation as the new head of Puerto Rico Trade and Export, Ricardo Llerandi on Thursday outlined the agency’s plans to “promote, encourage and facilitate the development of the local business class.”
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PR gov’t defaults on $312M in debt, interest due Feb. 1
February 2, 2017
The Commonwealth of Puerto Rico defaulted on $312 million in principal and interest due Feb. 1st by four credit-issuing entities, including constitutionally protected General Obligation bonds, the government confirmed Wednesday.
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Treasury collections fall $45.4M Y-O-Y in December
February 2, 2017
The Puerto Rico Treasury Department released Wednesday revenue collection numbers for December 2016 totaling $799.3 million, which represents a year-over-year decrease of $45.4 million.
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