Puerto Rico Gov. Ricardo Rosselló and Resident Commissioner Jenniffer González announced an allocation of $16 billion in federal funds for the recovery of the island after Hurricane María.
Espacios Abiertos, an organization that seeks to strengthen the capacity of individuals, groups and communities to act effectively in the political, social and institutional framework, hosted public hearings Wednesday to give citizens a chance to testify on the government’s proposed budget for Fiscal 2018.
Members of the House and Senate Treasury Commissions began Wednesday public hearings on the proposed budget for the 2017-2018 fiscal year, which exceeds $9.5 billion, outlined in Joint House Resolutions 186 and 187.
Gov. Ricardo Rosselló presented Wednesday a budget of $9.5 billion to Puerto Rico’s Legislative Assembly, which guarantees essential services and pension payments, and which also makes contributory justice for the citizens of the island, he said.
Gov. Ricardo Rosselló, Resident Commissioner Jenniffer González, and Senate President Thomas Rivera-Schatz joined forces Thursday in an effort from the federal capital to insert Puerto Rico into the discussion of the United States budget.
The Financial Oversight and Management Board for Puerto Rico meet Wednesday with student representatives of the University of Puerto Rico’s 11 regional campuses, in addition to the Plastic Arts and Design Schools and the Puerto Rico Conservatory of Music, to discuss the public university system’s fiscal situation.
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.
The Financial Oversight and Management Board for Puerto Rico sent a letter to the outgoing and incoming governors confirming, among other things, that the Commonwealth will face a deficit of $67.5 billion over the next 10 years.
As this year’s holiday shopping season kicks into high gear, a recent study by the Arteaga & Arteaga advertising firm revealed that this year consumers will be more astute in their purchases, mapping out budgets and taking advantage of attractive discounts.
An independent commission established by Puerto Rico's government has issued a report casting doubt on the legality of the island's debt, which could be declared null by a court if it decides the Commonwealth borrowed without authorization.
If the government of Puerto Rico were to pay the full amount due next year in GO debt would require laying off more than 3,400 public workers, among other adjustments.
Puerto Rico Gov. Alejandro García-Padilla on Monday unveiled a proposed budget for Fiscal 2017 of $9.1 billion, down $700 million from the original budget that was approved last year and $192 million less than the adjusted current budget.
The government of Puerto Rico is making budget adjustments amounting to some $254 million, which is about half of the shortfall in revenue collections the Treasury Department anticipated late last year.
Puerto Rico Planning Board President Luis García-Pelatti told lawmakers over the weekend that the island will experience negative economic growth of 1.3 percent and 4.2 percent, respectively in Fiscal 2015 and 2016, when the scenario is looked at from a pessimistic point of view.
Puerto Rico Gov. Alejandro García-Padilla introduced Wednesday the measure paving the way for a $9.8 billion General Fund budget, and a $28.8 billion consolidated budget for Fiscal 2016.
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