The Puerto Rico Planning Board revised the island’s macroeconomic data for the end of fiscal 2016, reflecting a decrease in the Gross Domestic Product of 1.1 percent.
The Puerto Rico Planning Board presented Thursday revised economic projections confirming that the Commonwealth’s gross national product (GNP) will be reduced by $116.4 million during fiscal 2016 and $143.0 million in fiscal 2017.
Puerto Rico Planning Board President Luis García-Pelatti told lawmakers over the weekend that the island will experience negative economic growth of 1.3 percent and 4.2 percent, respectively in Fiscal 2015 and 2016, when the scenario is looked at from a pessimistic point of view.