Puerto Rico Board Said to See Big Jump in Long-Term Surplus
- Surplus set to go higher on increased tax receipts, aid
- Marks latest postitive shift for island since 2017 hurricane
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Puerto Rico’s federal overseers are poised to raise their forecast for the island’s budget surplus over the next four decades after an influx of aid and rebuilding from last year’s storm is expected to give a jolt to the economy.
The change will increase Puerto Rico’s cumulative surplus -- before any debt payments are made -- to more than $20 billion through 2058, up from $4 billion in the fiscal recovery plan certified by the board in June, according to people familiar with the matter.