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 Puerto Rican government’s economic team is in Washington D.C. this week to “disclose and advance plans to stabilize the government's finances and revive the island’s economy,” the Treasury Department said Monday.
Puerto Rico Telecommunications Regulatory Board President Sandra Torres on Wednesday blasted the Legislature for ransacking the agency’s finances earlier this year, when it withdrew $10 million from a self-generated fund to balance the budget. The decision, she said, left the agency’s finances in a “precarious state.”
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