CNE – Centro Para Una Nueva Economía – Center for a New Economy
Non-profit, economic research and policy development organization
La聽Junta de Planificaci贸n聽anunci贸 el viernes pasado que la reducci贸n en el Produto Nacional Bruto para el A帽o Fiscal 2009 fue de 5.5%. 聽Esa contracci贸n evidentemente fue m谩s profunda de lo que se esperaba. 聽En nuestra opini贸n esto pone en duda la posibilidad de una recuperaci贸n r谩pida en Puerto Rico.聽
Recently there has been a lot of talk among U.S. economists about “green shoots” and “seeing the light at the end of the tunnel,” popular ways of saying that the worst of the current recession is over and growth will probably resume late this year or early 2010. In Puerto Rico, however, economic indicators continue to hover in negative territory.
Here鈥檚 an excerpt from our latest report, written by Sergio Marxuach, on the worrying trends regarding Puerto Rico鈥檚 public debt. The full report is available here. We have also posted a brief interview, in Spanish, that explains the nuts and bolts of the report.
In 1923 John Maynard Keynes published his Tract on Monetary Reform, which was his first attempt to analyze the monetary instability that plagued the post-World War I world. In classic contrarian fashion, one of Keynes’ conclusions was that central bankers – by shackling tehemselves to the “barbarous relic” of the gold standard – were actually exacerbating monetary problems.
La crisis fiscal por la cual atravesamos ha provocado que nuestro gobierno tome una serie de medidas en busca de lograr estabilizar la situaci贸n. Por un lado ha aumentado varios renglones impositivos como el impuesto sobre la propiedad y una sobretasa especial para ciertos contribuyentes.
In one of his best-known poems, William Butler Yeats wrote that there are times when things fall apart and the center cannot hold; when the best seem to lack all conviction and the worst run about full of passionate intensity. A pithy summary, perhaps, of the times we are living in Puerto Rico.
Como parte de nuestro programa de “Futuro fiscal”, y cumpliendo con nuestra misi贸n de proveer an谩lisis independiente y de alto rigor a los asuntos econ贸micos importantes del pa铆s, el Centro para la Nueva Econom铆a ha desarrollado una serie de indicadores sobre el desempe帽o fiscal de Puerto Rico los cuales acabamos de actualizar con la data del presupuesto recomendado por la actual Administraci贸n para el a帽o fiscal 2009-10.
This Fiscal Update Report prepared by the Center for a New Economy (CNE) presents an independent analysis of the proposals contained in the Governor鈥檚 budget request for fiscal year 2009-2010. The analysis is based on CNE鈥檚 evaluation and interpretation of the budget data, rather than the Administration鈥檚, and may incorporate estimates made by CNE鈥檚 staff or by other private sector analysts.
