Puerto Rico, which emerged from a record bankruptcy last year, may face budget deficits as soon as fiscal 2028 as the commonwealth’s spending plan depends on uncertain federal Medicaid funding.
The island’s federally-appointed financial oversight board released Puerto Rico’s multi-year fiscal plan on Wednesday after approving it on Monday. Puerto Rico needs economic growth and better financial management that avoids overspending, Robert Mujica, the board’s executive director, told reporters.
