Puerto Rico Economic Pulse ©

Nov 2017 The Other Side of Maria: Poverty Uncovered

A comparative analysis over time
Since 1970, official statistics corroborate that Puerto Rico made significant advances on the war on poverty. Economic growth and federal assistance in the Island were responsible for poverty reduction. On September 20th, hurricane Maria hit Puerto Rico leaving major economic damages and wiping out most of the vegetation in the Island. Besides its physical and economic impact, Maria also uncovered the poverty that exists in the Island and which makes us the poorest jurisdiction among the 50 States and PR. The face of poverty includes children, women, blacks, and the mountain area in PR. This issue addresses how poverty has changed in PR, what was the profile of poor people before Maria, what are the welfare programs to fight poverty, and what will it take to halt the increase in poverty levels caused after hurricane Maria.

Poverty Uncovered

Puerto Rico Compass ©

Q32017: PR’s Infrastructure: A House of Cards?

During 3Q 2017, two Category 5 hurricanes hit the Island causing unprecedented damages to the economy. Damages which could conservatively surpass $115 bn. The Island’s power grid was practically destroyed with massive damages, in roads, bridges, ports, airports, buildings, equipment, housing, and telecommunications, among others. All economic sectors depend on infrastructure to thrive; some sectors rely more than others but a good and consistent infrastructure is a must to be competitive in this global economy. Hurricanes Irma and Maria demonstrated that much of the PR alleged robust infrastructure was only a house of cards and when the winds blew out the electrical grid, all the house collapsed. This issue analyzes the repercussions of a broken infrastructure and how this impacts HCCG’s six quarterly economic indices in 3rd Q 2017.

Hurricane María over Puerto Rico
Source: NOAA