Revised Puerto Rico fiscal plan taps federal budget money


Revised Puerto Rico fiscal plan taps federal budget moneyPuerto Rico Governor Ricardo Rossello released a revised fiscal plan on Tuesday that will use $18 billion of additional money from the U.S. federal budget to transform the bankrupt island’s deficit into a $3.4 billion surplus within six years. The injection of new funding from the federal budget, enacted earlier this month, will let the U.S. territory shift its recovery plan again and make changes requested by its federally appointed financial oversight board. The new blueprint came after Hurricanes Irma and Maria devastated Puerto Rico in September and altered its economic outlook.

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