Puerto Rico tax revenues must pick up pace

By Cate Long
October 7, 2013

Puerto Rico announced first quarter general fund revenues for fiscal year 2013/14. As you can see, revenues increased $71 million year over year. But the Puerto Rico budget projected that corporation taxes would increase $775 million for the full year. They need to rapidly increase.

If general fund revenues continue on this pace, they will annualize at around $7.3 billion for the year. Puerto Rico will need a massive surge in the coming quarters to meet the full year budget estimate of $9.7 billion in general fund revenues (page 14).

Further:

Janney: Puerto Rico Island Visit October 2013

 

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GOVERNMENT DEVELOPMENT BANK FOR PUERTO RICO SENIOR NOTES, 2012 SERIES A (TAXABLE) (PR) 745177FN0 is now yielding 13% on BondDesk. The highest for all PUERTO RICO bonds maturing by Jan. 1, 2024.

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