Puerto Rico’s audited figures for fiscal 2012 show that its general fund deficit grew 24% from fiscal 2011.
On Monday evening the Government Development Bank of Puerto Rico posted the Comprehensive Annual Financial Report for fiscal year 2012 on its web site. This fiscal year ran from July 1, 2011 to June 30, 2012.
The audited deficit for the general fund was $1.337 billion for fiscal 2012, compared to $1.081 billion for fiscal 2011.
General fund expenses increased in fiscal 2012 by 8.43% compared to fiscal 2011. General fund revenues increased 6.7% in the same period.
Projected expenses in the current fiscal 2014 general fund budget total $9.77 billion, or $141 million less than in fiscal 2012.