Puerto Rico’s economic model must change its old ways and look to what has worked for other countries other than the United States to regain traction and truly compete on a global scale, according to an analysis by economic firm H. Calero Consulting.
Given the impact on Puerto Rico’s economy from the onslaught of Hurricanes Irma and María, the collapse of the island’s power system and the changes to the U.S. tax code and its local effect, the Puerto Rico Manufacturers Association is urging the Financial Oversight and Management Board to reconsider its role and objectives.
The new year that began yesterday is already characterized by a high level of uncertainty, largely due to the changes that have occurred and will occur in Puerto Rico’s environment.
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