General Fund gross revenue collections increased 9.3 percent to $638 million in October, or $54 million more in comparison to the total for the same month in 2010, Treasury Secretary Jesús F. Méndez said Monday.
The Treasury Department’s preliminary year-end General Fund report released Wednesday showing an uptick in revenue collections may not necessarily be a sign of real economic improvement, the Center for the New Economy said Thursday upon analyzing the results.
Foreign and non-resident companies doing business in Puerto Rico accounted for 10 percent of fiscal 2011’s General Fund collections, which reached more than $8.1 billion, preliminary results offered Wednesday show.