Puerto Rico Sales Tax Financing Corp (COFINA)

The board recommended federal policymakers talk with Puerto Rico’s government about ways to increase pharmaceutical and medical products manufacturing on the island to expand economic development.

Revenues were also ahead through the first 11 months of fiscal 2021.

While the truckers returned to work Thursday night, their union said board interference could lead to a renewed strike.

The economic impact of the strike will depend on how long it lasts and how many truckers stick with it.

The $10.1 billion General Fund focuses on operational improvements, Medicaid reform, and enhancing tax compliance.

The board said the measures passed by both the Puerto Rico House and Senate would harm the economy.

Economists in Puerto Rico panned the proposal to raise the rate to $9 per hour saying it would hurt businesses.

Puerto Rico's government tells the court the Disclosure Statement should address the likelihood the legislature will not approve new bonds for the plan of adjustment since the plan cuts pensions.

Through the first nine months of the fiscal year, Sales and Use Tax collections are up 30% from the year earlier.

The Board will address several of Puerto Rico's authorities' fiscal plans and will have an update about PREPA's transition of its systems to the private operator, LUMA Energy.