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  • Writer's pictureThe San Juan Daily Star

Governor, economists, fiscal team meet to update strategic economic framework

By The Star Staff

Gov. Pedro PierluisI Urrutia met at La Fortaleza on Tuesday with a group of economists and members of his economic and fiscal team to promote their input in updating the Strategic Economic Development Framework “Purpose.”

“We all recognize that there has been economic growth in Puerto Rico in these three years and that the federal funds that we are using for reconstruction are positive and have an impact on the economy,” Pierluisi said in a written statement. “Also, we recognize that manufacturing is solid and this is indicated by the indices that monitor manufacturing. And we recognize that tourism is buoyant and breaking records. Likewise, I see great economic activity in the area of technology because we are exporting technology services and the consumption of professional services has increased internally in Puerto Rico, part of that with federal funds and part with funds from the Government of Puerto Rico.”

During the meeting, the governor established that since January 2021, a positive trend has been registered on the island in the Economic Activity Index, unemployment is at its lowest point in history at 5.8%, and there are over 110,000 more jobs in the local economy.

“The vision is that, during these eight or nine remaining years of reconstruction, we continue to do things well, with balanced budgets and prepare so that the economic development of Puerto Rico is based on the foundation that we have built,” Pierluisi added.

The meeting was attended by Puerto Rico Secretary of State Omar Marrero Díaz, Treasury Secretary Francisco Parés Alicea, Deputy Economic Development and Commerce Secretary Humberto Mercader, Office of Management and Budget Executive Director Juan Carlos Blanco and Planning Board Chairman Julio Lassús Ruiz. Economists Vicente Feliciano, Rafael Romeu, Fernando Batlle, Kevin González Toro, José Santiago, Alejandro Díaz Marrero, Graham Castillo and Juan Lara were also present.

Castillo remarked that the dialogue “is always good, not only with us who are present here, but also with the economic union of Puerto Rico, which is very capable and opens up discussion and dialogue.”

“That is for the benefit of Puerto Rico,” he added. “We all have experiences to contribute to this process.”

Fellow economist Lara said “we have had a very interesting and useful meeting in which the governor presented his vision of how the economy is doing and how the government sees the transition toward sustained growth.”

“We have talked about the importance of having updated information and we have received a message about how the governor’s economic team is approaching the economic situation now and into the future,” he said. “We have had the opportunity to give our opinion on this and to present what we understand to be the information requirements that the economic profession and citizens need to be able to follow up on this process and evaluate how it is progressing.”

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