Reconstruction investments should push Puerto Rico’s economy to 2.0% growth in ’22
December 27, 2021
After a year of stabilization in the labor market and some economic sectors’ recovery following the dislocation caused by the COVID-19 pandemic, it is possible to expect a moderate economic growth of 2.0% by the end of fiscal year 2022, according to economic analysis firm Estudios Técnicos Inc. “The favorable performance of the Puerto Rico […]
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CNE estimates damage to unrepaired homes in Puerto Rico post-hurricanes at $11.8B
November 4, 2021
The Center for a New Economy’s (CNE) Blueprint initiative presented a digital platform that helps identify and monitor the extent to which Puerto Rican families and households have been able to overcome the damages to their homes after Hurricanes Irma and María. Official government reports indicate that about a third of the housing units in […]
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Rum market growth represents opportunity to reboot Puerto Rico’s economy
October 11, 2021
The rum industry could play a significant role in the recovery of Puerto Rico’s economy since it has a considerable impact on the treasury. Under the Federal Rum Excise Tax Cover-Over Program, every year excise taxes collected on Puerto Rican rum imported into the United States is transferred to the treasuries of the island. Since […]
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Op-Ed: Investing in Puerto Rico, investing in your future
October 1, 2021
We can all safely say that Puerto Rico’s great economic experiment began taking shape last year, marked by three extraordinary events. Our experiment starts with the earthquakes in the southern part of Puerto Rico that continues to affect thousands of lives from leaving children without schools to shuttering business to affecting the mental health of […]
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USDA opens grant program to help expand regional economies
June 17, 2021
U.S. Department of Agriculture (USDA) Rural Development Business-Cooperative Service unveiled a new grant program to help rural communities create good-paying jobs and support new business opportunities in high-growth fields. Rural Innovation Stronger Economy (RISE) is intended to help rural communities identify and maximize local asset and connect to networks and industry cluster within their region. […]
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Head of Puerto Rico’s economic dev’t travels to D.C. for meetings
June 9, 2021
Department of Economic Development and Commerce (DDEC, in Spanish) Secretary Manuel Cidre is heading to Washington D.C. this week to attend to “matters of high interest in favor of Puerto Rico’s economic development,” the agency announced. “It’s a loaded agenda, with key people who can be our allies when it comes to advancing our economic […]
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Op-Ed: How environmental and public health issues threaten the economy
May 4, 2021
When we thought of a pandemic, we never imagined that we would have to experience one in our lifetime. Nor a category 4 hurricane, much less an earthquake. It was an unthinkable scenario for many. In the last 45 months — or three and a half years — Puerto Ricans have lived through all three. […]
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Pierluisi testifies in support of ‘Build Back Better Plan’ before US House Committee
March 25, 2021
Gov. Pedro Pierluisi testified before the US House Committee on Natural Resources and discussed President Biden’s Build Back Better Plan, an infrastructure plan to transform the economy and provide relief to working families. Specifically, the plan will provide assistance to Puerto Rico by supporting a full recovery, a reconstruction of the infrastructure, providing economic development […]
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Estudios Técnicos predicts better economic outlook during 2nd half of ’21
March 3, 2021
In a recent overview of Puerto Rico’s economic panorama, analysis firm Estudios Técnicos predicted that fiscal conditions on the island could improve during the latter half of this year. In the research, the firm acknowledged that Puerto Rico’s economy continues to experience declines, but external factors such as the distribution of the COVID-19 vaccine, the […]
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Op-Ed: Skills to strengthen Puerto Rico’s formal economy
January 11, 2021
In Puerto Rico’s economy, which has a low level of formal labor participation, structural reform must include reducing barriers to employment. Puerto Rico must improve education and develop high-quality worker training programs that empower all residents to reach their fullest potential and enter the labor force. Knowledge, skills, and competencies are the three attributes that […]
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Puerto Rico’s economy faces uncertainty, further decline in ’21
January 4, 2021
After a significant decline stemming from measures adopted to control the COVID-19 pandemic, Puerto Rico’s economy faces further uncertainty as it is again expected to contract in 2021, although less dramatically, according to a projected scenario from economic consulting firm Estudios Técnicos. The firm’s base scenario reflects an economic contraction of 0.9% in 2021, a […]
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Abexus: Puerto Rico’s dependency on federal funds will linger in ’21
December 15, 2020
The year 2021 will be characterized by a strong dependency of federal funds across a number of industries, as the effects of the blow the COVID-19 pandemic dealt to Puerto Rico’s economy, local firm Abexus Analytics concluded in a study. “This next year will be characterized by a strong dependency of federal funds, not just […]
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Survey: Puerto Rican entrepreneurs don’t see quick economic recovery post-COVID-19
December 14, 2020
Challenges such as the grim economic scenario affecting Puerto Rican companies, the heavy tax load, high energy costs, government bureaucracy, and the recent closures due to COVID-19 have local entrepreneurs convinced that recovery will not happen soon. A survey conducted by analysis firm Estudios Técnicos Inc. confirmed that 84.7% of the entrepreneurs polled believe that […]
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Puerto Rico has to ‘resize economy’ on a small scale, plan for reduced population
December 8, 2020
Faced with the reality of an economy that has been reduced by 25% since 2006 and a population in continuous decline, Economist José Joaquín Villamil, from the Estudios Técnicos, Inc. firm, warned that the island’s risk profile “is very pronounced,” and urged planning for markets for the elderly, as well as taking advantage of new […]
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Op-Ed: Plastic recycling and new opportunities for an old problem
November 23, 2020
The world produces 381 million tons of plastic waste every year. That figure is set to double by 2034. The first synthetic plastic was produced in 1907, marking the beginning of the global plastics industry. It was in the 1950’s that global plastic production became large-scale. Over the next 65 years, annual production of plastics […]
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