Treasury collections fall $442M short of April estimates
May 9, 2014
Puerto Rico’s revenue collections for the month of April fell significantly below estimates, short by $442.3 million at $1.18 billion, but up by $196 million year-over-year, the Treasury Department said in a release distributed after the end of business Friday.
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Puerto Rico Treasury has cut $147.2M in tax refunds
May 8, 2014
The Puerto Rico Treasury Department announced Wednesday it has cut $147.2 million in tax refunds corresponding to 247,744 tax returns during the current tax cycle, representing $80 million more than what was disbursed at this time last year.
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Gov. signs order extending public agency service hours
May 5, 2014
Gov. Alejandro García-Padilla signed Sunday an executive order to extend service hours for certain Puerto Rico government agencies, as was established by law more than a decade ago.
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Statistics Institute opens call for science & tech. survey
May 5, 2014
The Puerto Rico Statistics Institute is calling all entities involved in research and development activities to participate in the Science and Technology Research and Development Survey, which provides for the collection of data on R&D resources earmarked for the island, a key indicator of the knowledge economy, agency Executive Director Mario Marazzi said.
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Gov’t talks options to slash costs while keeping workers
May 1, 2014
Gov. Alejandro García-Padilla's administration is contemplating a number of austerity measures to scale back government expenses, including proposing an across-the-board $600 Christmas bonus for all public employees and eliminating payments of excess or unused sick days.
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Governor pitches $9.64B budget, ‘reconstruction plan’
April 29, 2014
Puerto Rico Gov. Alejandro García-Padilla presented Tuesday a budget that includes about $1.4 billion in cuts, including the elimination of 23 agencies and about 100 schools, among other “rational uses of public funds.”
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USDA assigns $6.6M to fix Puerto Rico sewage systems
April 23, 2014
The Puerto Rico Aqueduct and Sewer Authority and the Municipality of Hatillo are getting a combined $6.6 million from the U.S. Department of Agriculture to improve sanitary sewer system projects in rural areas, the agency announced Tuesday.
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Puerto Rico to host ’14 Investment Summit April 24-25
April 22, 2014
The Puerto Rico Investment Summit, a two-day conference held in collaboration with the Department of Economic Development and Commerce of the Commonwealth of Puerto Rico and Paulson & Co., will be held later this week, focusing on Puerto Rico as a business and investment destination.
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Puerto Rico picked for ‘super-utilizers’ policy academy
April 15, 2014
The National Governors Association (NGA) recently chose Puerto Rico to participate in a pilot project to develop state-level capacity to support so-called Medicaid “super-utilizers,” along with six other states: Alaska, Colorado, Kentucky, Nuevo Mexico, West Virginia, and Wisconsin.
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CRIM collects $156M from property tax amnesty
April 14, 2014
The Puerto Rico Municipal Revenues Collection Center, or CRIM, announced Sunday it collected $156 million during the 100-day amnesty period that gave tax payers a chance to pay off their property-related debt free of interest, surcharges and penalties.
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YTD revenue collections top $6B, but fall short in March
April 9, 2014
General Fund collections for the month of March totaled $785 million, down 9.7 percent when compared to the $1 billion on record for March 2013.
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Gov’t to pursue business opportunities in LatAm, Europe
April 8, 2014
The government of Puerto Rico plans to spend $750,000 over a 12 month-period starting in June to open and run commercial offices in Colombia and Perú — and launch a magazine to document its actions — to drum up business in Latin America and establish the island as the bridge between that region, Europe and the United States.
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GDB spends $2.6M on stateside debt restructuring firms
April 8, 2014
The Government Development Bank for Puerto Rico spent $2.6 million to pay for the services of two stateside law firms, Cleary Gottlieb Steen & Hamilton LLP and Proskauer & Rose LLP, seeking advice on “financing plans and other related matters.”
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Pan American Health Org. helps craft mental health stats
April 7, 2014
The Pan American Health Organization and the Puerto Rico Statistics Institute are working together to enable the island to produce comparable statistics about the mental health system based on World Health Organization Assessment Instrument for Mental Health Systems parameters, known as WHO-AIMS.
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P.R. Trade allies with students to boost int’l commerce
April 4, 2014
Puerto Rico Trade and Exports and student organization AIESEC have signed a cooperation agreement to develop the incursion of Puerto Rican companies in international markets.
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