Puerto Rico Compass ©

Q3 2016 – Is Election 2016 Different for Puerto Rico?

Does the upcoming race change anything?
With elections just around the corner, do Puerto Ricans think the next Governor will have a profound impact on the economy? This issue of Compass analyzes the performance of HCCG’s six quarterly indices during the past non-election years compared with historical election years from 2000 thru 2012 and this year’s results. Find out if the consumer index tracks Puerto Ricans’ sense of financial security in their spending patterns. However, banking, construction, and manufacturing as well as the coincident index suggest the results of this election could prolong the lengthy economic recession of the past 11 years. Any election year brings uncertainty and many business owners could be hesitant to make long-term decisions. To complicate matters, the recently US Congress mandated Fiscal Control Board has absolute powers over the administration of the Island until fiscal discipline is restored, public debt is serviced, and there is access to financial markets. What is certain is that all of this will take years in the making.

Puerto Rico Economic Pulse ©

Oct 2016 – One More Time: Puerto Rico’s Agenda

Election 2016 – Analysis of Economic Platforms
On November 8th, 2016, Puerto Ricans will face a stark choice between six governor candidacies, consisting of 4 political parties and 2 independent candidates. According to recent polls, independent candidates are attracting 22% of voters. Still, Ricardo Rossello from the NPP and David Bernier from the PDP are leading the polls to be the next Governor of PR. However, with the recent approval of a US Congress mandated Fiscal Control Board for PR, most people consider the elected governor and the legislature will have limited powers and areas of influence. Under these circumstances, the next four years will be tough for the new government and the people of PR. Economic issues include recession, outmigration, debt payments, retirement and health time bombs, and a harsh relation with the Fiscal Control Board. Voters in PR will have to analyze carefully the various platforms of these candidates and determine if some of these measures are economically unfeasible, not fiscally prudent, unclear; or depict lack of organization and cohesion, among other flaws. Can you judge who might be the better candidate for PR?