Economist: Sense of crisis prevails, decision time is now
April 27, 2015
Going into its eighth year of negative growth, Puerto Rico needs to become accountable for its “sad state” of internal affairs and make a number of necessary decisions to recover growth in fiscal years to come and put an end to the prevailing sense of crisis, said economist firm H. Calero Consulting Group in the most recent edition of its internal publication “Pulse.”
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PRMA: Lower energy costs, single message are key
April 7, 2015
To effectively compete in global markets, Puerto Rico should significantly reduce energy costs and “work in unity of purpose with one voice” to ensure special tax treatment to stateside companies established on the island, said Puerto Rico Manufacturing Association President Carlos Rivera-Vélez during a recent trip to Washington, D.C.
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CNE outlines 7 strategies to spur P.R.’s economic dev’t
March 6, 2015
On the heels of testimony presented before the Senate the prior day, the Center for a New Economy on Thursday offered seven strategies to jumpstart Puerto Rico’s economy, that sidestep the government’s proposed tax reform — for now.
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Census: P.R. manufacturing shipments drop 4.5% in ’12
March 2, 2015
Puerto Rico's overall manufacturing sector reported $76.6 billion in total value of shipments for 2012, down 4.5 percent from $80.2 billion in 2007, according to the U.S. Census Bureau's Economic Census of Island Areas.
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Economists: Don’t tax education, fiscal growth plan vital
February 24, 2015
Several prominent Puerto Rican economists urged lawmakers on Monday to exempt educational institutions from the proposed 16 percent value-added tax being discussed as part of a sweeping tax reform for the island.
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Electric Daisy Carnival to boost tourism, hotel bookings
February 19, 2015
This weekend’s two-day Coors Light Electric Daisy Carnival is expected to draw more than 40,000 people from Puerto Rico and other countries, boosting the island's economy and thrusting it into the international spotlight.
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Economist: ’14 turbulent, but ’15 will be decisive for P.R.
February 17, 2015
The effects of the current administration’s value-added tax proposal as part of a sweeping tax overhaul and the “liquidity time bomb” of the Government Development Bank will make 2015 a “decisive year” for making harsh decisions, analyst firm H. Calero Consulting predicted in the latest edition of its publication “Compass.”
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SBA loans up 66% in Puerto Rico, USVI in 1Q15
February 12, 2015
The U.S. Small Business Administration approved 165 loans for $26.9 million in Puerto Rico and the U.S. Virgin Islands during the first three months of fiscal year 2015, an 11 percent and 66 percent increase, respectively, over first-quarter approvals in 2014.
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Census: Puerto Rico loses 177K residents in 4 years
January 29, 2015
Puerto Rico has lost 177,392 residents either to migration or death in the last four years, putting pressure on the economy, as well as specific sectors, — such as retail — that will need to readjust their business models to provide for future consumer behavior.
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PR, DR governments sign multiple bilateral agreements
January 14, 2015
The governments of Puerto Rico and the Dominican Republic signed Tuesday a series of bilateral agreements that seek to promote economic, academic, scientific, security, and cultural experiences between the two islands that share deep historical ties.
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Cuba opening poses challenge, prospects for Puerto Rico
December 18, 2014
The White House’s announcement Wednesday of charting a “new course” in its relations with Cuba drew immediate response from decision- and opinion-makers in Puerto Rico, which agreed for the most part that pulling the neighboring island country out of its isolated state will present challenges and opportunities in years to come.
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Panel of experts offers ‘wish list’ for Puerto Rico growth
December 12, 2014
NEW YORK — A panel of experts comprising analysts, economists and financial advisors gathered in Manhattan on Friday to analyze Puerto Rico’s current fiscal conditions and offer suggestions for turning the ship around in 2015, many of which require tough decisions.
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Panama’s U.S. ambassador offers upbeat outlook for ’15
December 9, 2014
WASHINGTON — Panama, host of the VII Summit of the Americas next April, will see its economy grow faster in 2015 than anywhere else in the Western Hemisphere.
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McCain blasts Jones Act as ‘contradictory’ to U.S. values
December 8, 2014
WASHINGTON — Sen. John McCain (R-Arizona) lashed out at the Jones Act during a panel at the Heritage Foundation, saying the 94-year-old maritime law is an anachronism that hurts U.S. farmers and manufacturers at the expense of foreign rivals.
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Top Cuban economist pessimistic on island’s prospects
December 8, 2014
WASHINGTON — One of Cuba’s top experts on international finance was decidedly pessimistic when discussing the island’s economic prospects at a recent conference in Washington.
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