Food and agriculture are part of the backbone of the global economy. In the United States alone farms contributed $136.7 billion, while the agriculture and food industry as a whole created nearly $1 trillion of economic impact, totaling approximately 5.5% of the entire gross domestic product (GDP) of the country.The businesses and government in Puerto Rico have their eye on the agriculture industry, as they look to create sustainable development and future growth through the industry’s economic contributions. In a recent interview with Accuweather, the Secretary of the Department of Agriculture of Puerto Rico, Carlos Flores Ortega, discussed Governor...Read More
Author: Daniel Ziebarth
The outlook for the Guamanian economy in 2019 is less optimistic than in 2018, as a slowdown in economic growth is expected. Despite this less optimistic outlook in the common months, as reported by recent University of Guam-based statistics, Guam’s economy is still expected to grow, even though it may be at a lower rate than was seen in 2018. While inflation for 2018 was approximately 2.6%, wages increases in the private sector of 3% and increases in the public sector of 2.8% offset inflation, and even beat it out last year. These signs reflect a positive lining to...Read More
After being unable to host the Puerto Rico Open in 2018 as a result of the aftermath of Hurricane María, a major PGA golf event made a recent return to the territory. The Puerto Rico Open professional golf tournament once again took place from February 21 to February 24 at the Coco Beach Golf and Country Club championship golf course in Rio Grande, Puerto Rico. The PGA tour is the largest and most prestigious tour of professional golf events in the United States, with total tournament payouts in the millions of dollars. The Puerto Rico Open has been a...Read More
On December 19, lawmakers in Washington DC introduced a bill that seeks to require greater measures of transparency on past deals undertaken by the Puerto Rico Financial Oversight and Management Board, as well as outside consultants. The legislation was introduced in the previous Congress, prior to the arrival of new representatives on January 3, 2019, and has now been referred to the House Committee on the Judiciary for review. The bill HR 7355, referred to as PRRADA which is an acronym for the Puerto Rico Recovery Accuracy in Disclosure Act of 2018, was sponsored by Representative Nydia Velázquez (D)...Read More
On Tuesday, October 16, the Bank of Guam held its 19th annual Fall Economic Forum. This forum brings together business leaders, philanthropists, sustainability advocates, academics, and community members each Fall to discuss the current state of Guamanian economic affairs, and focus on the future of progress and development in the territory. This Fall’s forum was headlined by Gina Lopez, a sustainability advocate and philanthropist who is founder of the ABS-CBN Foundation, a non-profit organization based in the Philippines dedicated to providing services and support to Filipino families around the world primarily through child care, disaster support, and environmental management....Read More
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