A committee in the US House of Representatives recently approved a bill that is designed to increase exports from Puerto Rico. This legislation attempts to expand the Puerto Rican economy, which has seen decay across many sectors in the face of natural disasters and mounting debt. The House Financial Services Committee, which approved the bill, oversees the financial services industry in the United States. The bill was introduced by RepresentativeNydia Velazquez (D), who represents the 7th District in New York. Representative Velazquez has been at the forefront of addressing issues facing Puerto Rico, particularly concerning the economy in the...Read More
Author: Daniel Ziebarth
After the widely publicized downfall of former Puerto Rico Governor Ricardo Rosselló (NPP, D), the territory now has a new leader in the seat, Wanda Vázquez (NPP, D). With a new political leader in place, Puerto Rico’s economic development will also be in focus after tumultuous strife following public protests that eventually led to Rosselló’s resignation. With this in place, new prospects lay ahead for Puerto Rico, where the economy is already growing in areas after Hurricane Maria, bankruptcy issues, and after disputes over federal funding caused a major setback to the territory’s economy over the previous two years....Read More
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
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
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