Puerto Rico economic activity index -1.1% YOY in Aug.
September 29, 2014
Puerto Rico’s economic activity index reflected yet another drop in August, when results were down 1.1 percent when compared to the same month last year, according to data released late Friday by the Government Development Bank.
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Treasury wants to erase ‘uncertainty’ from tax code
September 12, 2014
The Puerto Rico Treasury Department has spent the last seven months working with a team of local and international experts in tax, fiscal and economic matters to propose an overhaul to the island’s Internal Revenue Code that ultimately should eliminate the “uncertainty” associated with elements of the decades-old statute, agency Chief Melba Acosta told members of the media Thursday.
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Migration aggravating island’s battered housing market
September 11, 2014
The accelerated rate at which Puerto Rico is losing population — particularly the younger, productive segment — is placing significant pressure on the island’s housing market, which continues to experience ongoing decreases in sales and rental activity.
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Private sector group to tout Puerto Rico’s advantages
September 11, 2014
Members of a newly formed nonprofit, non-partisan organization under the name Puerto Rico is the Answer has taken upon itself the task of actively help international investor prospects identify and set up attractive business ventures on the island, using fiscal autonomy as the cornerstone of the effort.
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‘Puerto Rico is the Answer:’ New investment think-tank
September 9, 2014
With the goal of stimulating the investment of national and foreign capital, a group of Puerto Rican experts in the fields of finance and economy have come together to create action-tank “Puerto Rico is the Answer,” to drum up investments for the island.
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Economist: Island recession not consumption-driven
September 8, 2014
The recession that has affected Puerto Rico’s economy for the better part of the last eight years has not been consumption-driven, but has been the worst in terms of consumption deceleration, especially in the area of durable consumption, an analysis by economist firm H. Calero Consulting Group Inc. concluded.
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PRHTA convention fixing on sector’s economic benefits
September 8, 2014
Under the theme “Window of Opportunities,” the Puerto Rico Hotel and Tourism Association will celebrate its annual convention Sept. 8-10 at the Condado Plaza Hilton hotel, during which it will focus on the industry’s contributions to the island’s economic development.
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Puerto Rico ranks 32nd in ’15 WEF report, slips 2 notches
September 3, 2014
Puerto Rico improved its standing in the World Economic Forum’s annual Global Competitive index, taking 32nd place in the 2014-2015 list and climbing two notches from last year.
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Bacó: Gov’t sees medical tourism as economic spoke
September 3, 2014
Several decades after the term was first tossed around as a potential revenue-generator for Puerto Rico, high-ranking government officials announced Tuesday the start of a formal effort to develop medical tourism as an economic sector for the island.
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PRIDCO in Brazil for Iberoamerican Economic Congress
September 2, 2014
With a business development agenda in hand, Puerto Rico Industrial Development Company Executive Director Antonio Medina-Comas will participate this week in the Iberoamerican Economic Congress taking place in Sao Paulo and Brasilia, in Brazil.
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Economic lessons Puerto Rico can learn from Taiwan
August 11, 2014
TAIPEI — Both are relatively tiny islands that have complicated relationships with the giant superpowers that claim them. Both use tax incentives to lure U.S. factories to their shores — despite the absence of full-fledged embassies in Washington — and the political status of both islands is a never-ending source of debate among local voters.
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Economist: Solving PR’s power costs conundrum feasible
August 4, 2014
The island’s electricity costs — significantly high in comparison to most competitive economies — could be solved by making a series of difficult choices to fix the Puerto Rico Electric Power Authority’s escalating problems and take advantage of a new energy order that is driving down prices around the globe.
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Puerto Rico’s economic activity slides on public payroll
August 4, 2014
Puerto Rico’s economic activity index for the month of June showed a 1.0 percent year-over-year reduction, after showing a 1.1 percent YOY decrease in June 2014.
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Gov’t defends strategy, lays out numbers for investors
July 18, 2014
Gov. Alejandro García-Padilla and members of his fiscal team faced investors during a webcast Thursday, during which they defended the administration’s strategy thus far to turn around the island’s grim financial situation.
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NY Fed Chief raises red flag about Puerto Rico’s debt
June 25, 2014
Stabilizing Puerto Rico’s $70 billion debt as a share of its income and reducing it to more sustainable levels should be a key goal of the island’s fiscal and economic policy, New York Fed CEO William Dudley said during a presentation to the CPA Society on Tuesday.
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