Net General Fund revenue totaled $776 million in December, representing an increase of $210 million when compared to the same month in 2010. The hike was attributed to a surge in motor vehicle excise tax collections, which Treasury Secretary Jesús Méndez said reflected the highest year-over-year percentage growth.
The austerity measures put in place over the past two years have reduced Puerto Rico’s deficit and spurred economic growth, Gov. Luis Fortuño and his Economic Development and Commerce chief said in separate speeches offered on Wednesday’s session of the National Leutenant Governors Association convention taking place in San Juan.
The Gov. Luis Fortuño administration announced Monday its decision to turn over the management and upkeep of two island highways, PR-22 and PR-5, to the consortium of Goldman Sachs and Abertis, through a 40-year contract worth more than $1.4 billion.
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
