Skip to content

Financial Oversight and Management Board Requests Comments on Gov’s Fiscal Plan before Wednesday

The Puerto Rico Financial Oversight and Management Board has asked for comments by next Wednesday at 9 AM on the fiscal plan that Governor Alejandro Garcia Padilla (Popular Democratic Party) submitted October 14th, although New Progressive Party Governor-Elect Ricardo Rossello has said that he will submit an alternative plan.

In inviting comments, the Board distilled the Garcia Padilla plan, identifying the following among key elements —

  • Current spending would be reduced nine percent.
  • Revenue would increase nine percent.
  • There would be new spending of $9.9 billion.
  • $16.1 billion in additional Federal healthcare funding is assumed.
  • $8.4 billion in additional revenue as a consequence of the plan.
  • The net is a $15.4 billion deficit over 10 years if all debt is serviced.

The following is a link to the Board’s announcement/summary.

The Board had earlier indicated that it would hold a public hearing in Puerto Rico during mid-November.  No final date for this hearing has been announced.

Leave a Reply

Subscribe to our Magazine, and enjoy exclusive benefits

Subscribe to the online magazine and enjoy exclusive benefits and premiums.

[wpforms id=”133″]