CNE: ‘Fiscal ’15 budget will not be structurally balanced’
June 19, 2014
Contrary to what the government has been asserting over the past few months, the proposed budget for Fiscal 2015 will not be a balanced one because it is not factoring in sufficient appropriations to cover bond interest payments due, the Center for a New Economy said Wednesday.
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Preliminary May 2014 collections beat estimate by $29M
June 10, 2014
Puerto Rico Treasury Secretary Melba Acosta-Febo said today that preliminary General Fund revenue collections for May totaled $753 million, exceeding collections for the same month of last year by $141 million, or 23 percent, and beating estimates by $29 million.
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Groups weigh in on government revenue shortfall
May 15, 2014
Two of the island’s largest private-sector trade groups, the Puerto Rico Chamber of Commerce and the CPA Society, weighed in Wednesday on the possible reasons for the $442 million revenue shortfall the Treasury Department reported for the month of April.
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Treasury collections fall $442M short of April estimates
May 9, 2014
Puerto Rico’s revenue collections for the month of April fell significantly below estimates, short by $442.3 million at $1.18 billion, but up by $196 million year-over-year, the Treasury Department said in a release distributed after the end of business Friday.
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Governor pitches $9.64B budget, ‘reconstruction plan’
April 29, 2014
Puerto Rico Gov. Alejandro García-Padilla presented Tuesday a budget that includes about $1.4 billion in cuts, including the elimination of 23 agencies and about 100 schools, among other “rational uses of public funds.”
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OFG reports $20.3M in 1Q14 earnings, up $2.6M YOY
April 29, 2014
Oriental Financial Group reported Monday earnings of $20.3 million for the first quarter of the year, representing $0.42 per share diluted, compared to $16.6 million, or $0.35 per share diluted, in the preceding quarter, and $17.7 million, or $0.37 per share, in the first quarter of 2013.
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YTD revenue collections top $6B, but fall short in March
April 9, 2014
General Fund collections for the month of March totaled $785 million, down 9.7 percent when compared to the $1 billion on record for March 2013.
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Community pharmacies expect revenue growth for ’14
March 13, 2014
The troubled economy and competition from U.S. pharmacy chains notwithstanding, Puerto Rico's community pharmacies are holding their own and are likely to experience growth this year, according to the head of a cooperative of pharmacy owners.
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Puerto Rico Feb. net revenue at $670M, beats estimate
March 5, 2014
Puerto Rico Treasury Secretary Melba Acosta-Febo said Tuesday that preliminary General Fund net revenues for February totaled $670 million, exceeding estimated collections by $57 million.
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Puerto Rico Jan. revenue haul at $664M; IVU at $129.9M
February 11, 2014
Puerto Rico’s General Fund revenue collections for the month of January amounted to $664 million, a figure that is $1 million less than the same period last fiscal year, but that Treasury Secretary Melba Acosta described as a “record.”
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Puerto Rico gov’t revenue $925M in Dec., up 28% YOY
February 4, 2014
Puerto Rico Treasury Secretary Melba Acosta-Febo said Monday that the General Fund collected $925 million in net revenues during December 2013, $12 million higher than the preliminary figure announced in early January.
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Puerto Rico collections up $335M YOY through Nov.
December 12, 2013
Puerto Rico Treasury Secretary Melba Acosta announced Thursday that revenues for the first five months of fiscal year 2014 exceeded collections for the same period of fiscal year 2013 by $335 million, or 12.4 percent.
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Treasury reports $262M preliminary haul in October
November 4, 2013
Treasury Secretary Melba Acosta-Febo, announced that preliminary revenues for the month of October 2013 increased by $262 million compared to October 2012, and totaled $856 million for the month.
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Puerto Rico Treasury reports $1.6B in 1Q revenue
October 15, 2013
The Puerto Rico Treasury Department disclosed Monday first quarter revenue of $1.69 billion, a figure that represents a year-over-year increase of $88 million, or 5.4 percent, and exceeded budget estimates for this period by $10.4 million, agency chief Melba Acosta said.
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Puerto Rico Treasury: September collections up 18%
October 8, 2013
The Puerto Rico Treasury Department announced Monday that September collections reflected an increase of $109 million, or 18 percent, compared to the same month last year.
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