Transforming the Recovery into Locally-led Growth: Federal Contracting in the Post-Disaster Period

 

 

 

 

 

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In the wake of the devastation resulting from hurricane María, the United States Federal Government mobilized numerous emergency relief efforts in Puerto Rico. Traditionally, Federal disaster response has been thought of as the “silver lining” that stems from a catastrophic event, given the millions of US Government dollars that are pumped into the local economy. 

The report examines Federal post disaster expenditures and the sectors and companies being contracted. Our primary findings suggest that Federal relief and recovery spending in Puerto Rico is mostly being used to contract mainland US firms. Moreover, existing trends signal that local economic development opportunities stemming from post disaster funding are possibly lower than expected. 

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Analysis of Puerto Rico’s Current Economic and Fiscal Situation

What follows is an analysis of Puerto Rico’s current economic and fiscal situation which Sergio Marxuach submitted for the United States’ Senate Energy and Natural Resources Committee hearing on Thursday, October 22nd, 2015.
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Fiscal Situation Update: Fiscal Year 2012-2013 Budget

This Fiscal Update Report prepared by the Center for a New Economy (CNE) presents an independent analysis of the proposals contained in the Governor’s budget request for fiscal year 2012-2013. The analysis is based on CNE’s evaluation and interpretation of the budget data, rather than the Administration’s, and may incorporate estimates made by CNE’s staff or by other private sector analysts.
 
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Fiscal Situation Update: An Analysis of the Governor’s Proposed Budget for Fiscal Year 2012

This Fiscal Update Report prepared by the Center for a New Economy (CNE) presents an independent analysis of the proposals contained in the Governor’s budget request for fiscal year 2012. The analysis is based on CNE’s evaluation and interpretation of the budget data, rather than the Administration’s, and may incorporate estimates made by CNE’s staff or by other private sector analysts.
 
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Fiscal Situation Update: Fiscal Year 2010-2011 Budget

This Fiscal Update Report prepared by the Center for a New Economy (CNE) presents an independent analysis of the proposals contained in the Governor’s budget request for fiscal year 2010-2011. The analysis is based on CNE’s evaluation and interpretation of the budget data, rather than the Administration’s, and may incorporate estimates made by CNE’s staff or by other private sector analysts.
 
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Fiscal Situation Update: Fiscal Year 2009-2010 Budget

This Fiscal Update Report prepared by the Center for a New Economy (CNE) presents an independent analysis of the proposals contained in the Governor’s budget request for fiscal year 2009-2010. The analysis is based on CNE’s evaluation and interpretation of the budget data, rather than the Administration’s, and may incorporate estimates made by CNE’s staff or by other private sector analysts.
 
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Fiscal Situation Update: Fiscal Year 2008 Review

I. A preliminary look at the fiscal 2007-08 balance

About a month ago the Puerto Rico Treasury Department released the preliminary revenue figures for fiscal year 2008. General fund net revenues totaled $8.252 billion, which is $610 million, or 6.88 per cent, less than the $8.862 billion collected during the previous fiscal year.

If we compare the actual revenues received with the originally budgeted amount, we find that general fund net revenues fell $825 million, or 9.09 per cent, short of the initially expected amount of $9.077 billion. This original revenue estimate, however, was revised in March 2008. At that time, the Treasury announced it expected net general fund revenues to come in at the level of $8.671 billion. Still, actual receipts were $419 million, or 4.83 per cent, below the revised forecast and even the adjusted projections were missed.

 
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Fiscal Situation Update: Fiscal Year 2008-2009 Budget

This Fiscal Update Report prepared by the Center for a New Economy (CNE) presents an independent analysis of the proposals contained in the Governor’s budget request for fiscal year 2008-2009. The analysis is based on CNE’s evaluation and interpretation of the budget data, rather than the Administration’s, and may incorporate estimates made by CNE’s staff or by other private sector analysts.
 
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Fiscal Situation Update: May 2007


 
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