Treasury reports $262M preliminary haul in October
November 4, 2013
Treasury Secretary Melba Acosta-Febo, announced that preliminary revenues for the month of October 2013 increased by $262 million compared to October 2012, and totaled $856 million for the month.
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Moody’s: Puerto Rico facing greater odds of defaulting
October 29, 2013
Puerto Rico is facing better odds of defaulting on its debt, Moody’s Analytics said Monday, adding that fiscal problems, high unemployment rate and a shrinking population are fueling the problem.
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Puerto Rico gov’t projects 17% revenue growth in FY ’14
October 16, 2013
Puerto Rico government officials told investors Tuesday that the Commonwealth's Fiscal 2014 General Fund budget revenue will grow by $1.7 billion, or 17 percent, largely due to new tax measures, amendments to Law 154 and an expansion of the Sales and Use Tax (IVU, as it is known in Spanish) base.
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Puerto Rico Treasury reports $1.6B in 1Q revenue
October 15, 2013
The Puerto Rico Treasury Department disclosed Monday first quarter revenue of $1.69 billion, a figure that represents a year-over-year increase of $88 million, or 5.4 percent, and exceeded budget estimates for this period by $10.4 million, agency chief Melba Acosta said.
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Puerto Rico Treasury: September collections up 18%
October 8, 2013
The Puerto Rico Treasury Department announced Monday that September collections reflected an increase of $109 million, or 18 percent, compared to the same month last year.
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Treasury, GDB looking to broaden COFINA’s capacity
September 26, 2013
The government’s economic team, headed by Puerto Rico Treasury Secretary Melba Acosta and Government Development Bank Interim President José Pagán confirmed the introduction of a bill to expand the Sales Tax Fund Financing Corporation's (COFINA, by its Spanish acronym) capacity to issue bonds and facilitate the execution of a more cost-effective financing for the Commonwealth.
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Treasury collections down $40M year-over-year in Aug.
September 20, 2013
The Puerto Rico Treasury Department collected $40 million less last month with $472.7 million in net revenue, down from the $513.5 million in net revenue in the books for the same month last year, according to figures the agency released Thursday.
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Puerto Rico gov’t drags $39B deficit, annual report shows
September 16, 2013
Puerto Rico’s government agencies, certain corporations and other entities are dragging a combined $39 billion net asset deficit, which represents an increase of approximately $5.3 billion when compared to the fiscal year ended June 30, 2011.
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Gov’t to open bids for $62.5M in construction projects
September 2, 2013
In the next two months, the Puerto Rico Infrastructure Financing Authority (PRIFA) will open bids for construction projects totaling $62.5 million, agency Executive Director Grace Santana told members of the Association of General Contractors.
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GDB places $400M in Puerto Rico Highway Auth. bonds
August 30, 2013
The Puerto Rico Highway and Transportation Authority closed Thursday $400 million in Bond Anticipation Notes financing with RBC Capital Markets that will benefit both the agency and the Government Development Bank, its Interim President José Pagán said.
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Puerto Rico Treasury collects $495M in July
August 30, 2013
Puerto Rico Treasury Secretary Melba Acosta said Thursday the government collected $495 million in General Fund revenue in July, the first month of the current fiscal year.
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Gov’t adopts ‘Puerto Rico, All- Star Island’ as new slogan
August 22, 2013
The Puerto Rico government announced Wednesday its latest institutional slogan, “Puerto Rico, All-Star Island,” to be used by all agencies to promote the island as “one of the best places in the world to invest.”
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Puerto Rico Treasury says it has bridged deficit by 75%
August 20, 2013
The Treasury Department has closed the gap between Puerto Rico’s actual General Fund income and the income estimated by the previous administration by 75 percent, agency chief and government CFO, Melba Acosta-Febo said Monday.
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Puerto Rico Planning Board unveils online data tools
August 19, 2013
The Puerto Rico Planning Board announced a new set of tools available through its website designed to facilitate access to statistical data — at no charge — that measure the performance of the island’s economy.
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Puerto Rico Retirement Systems chief Mayol resigns
August 16, 2013
Héctor Mayol, who headed the Commonwealth Retirement Systems in Puerto Rico since 2009, is stepping down from the post effective Aug. 31, the public servant announced Thursday.
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