Puerto Rico’s July Revenue Comes in $7.4 Million Above Forecast
- Commonwealth collected $665.1 million of tax receipts in July
- Taxes on foreign manufacturers, businesses boost collections
This article is for subscribers only.
Puerto Rico’s revenue collections for the first month of the fiscal year came in above budgeted estimates, a positive start after receipts came in below the island’s projections last year.
The commonwealth’s general fund revenue in July totaled $665.1 million, $7.4 million more than expected, with tax receipts on foreign manufacturers and business coming in better than anticipated, Treasury Secretary Juan Zaragoza said in a statement Monday. Revenue collections for July were $38.6 million more than a year earlier.