Breaking news.
(photo credit: JPOST STAFF)
Puerto Rico Governor Ricardo Rossello's revised blueprint for steering the U.S. territory out of economic crisis identifies an extra $262 million in new revenues, the governor's office announced on Saturday.
An earlier version of the plan envisioned $12.9 billion in new revenues over 10 years, but was rejected by Puerto Rico's federally-appointed oversight board, which must approve a turnaround plan for the island under the federal Puerto Rico rescue law known as PROMESA. The draft relied on overly optimistic forecasts for economic growth, the board said.