Cuts loom as gov’t confirms $441M deficit for Fiscal ’16
May 5, 2015
Members of Gov. Alejandro García-Padilla’s fiscal team confirmed Monday the government will likely have to implement cutbacks across the board to address the $441 million deficit it is facing for the start of Fiscal 2016.
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Gov. García-Padilla to ‘take steps’ to navigate fiscal crisis
April 30, 2015
Gov. Alejandro García-Padilla said Thursday the government will take specific steps in coming months to face Puerto Rico’s fiscal crisis, which include no new taxes and no job cutbacks.
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Economist: Puerto Rico has a lot to learn from NYC crisis
June 9, 2014
Puerto Rico is in the throes of one of the most serious economic depressions in the last 40 years of its history as a Commonwealth. However, it is not alone in its experience, which could be compared to the fiscal crisis New York City faced in 1975, when it was on on the verge of defaulting on its obligations.
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