Puerto Rico Economic Pulse ©

July 2004: Remaking The Miracle with PR 2025 – Part I

Big challenges facing Puerto Rico and a new strategic plan for 2025

Once praised as an economic miracle, Puerto Rico is now confronting structural problems, which threaten its economic and social goals. Loss of competitiveness, strong reliance on federal transfers, high rates of unemployment, and poor participation of local firms in cutting edge sectors are some of the flaws dragging the economy down. This is Part I of two issues that review the main challenges of our society and introduce PR 2025 as a novel effort to regain the lost edge. This initiative is the first comprehensive, long run strategic plan for Puerto Rico. It builds on our vision of the island, our dreams, and our opinions. Unless we get behind PR 2025, our challenges will remain.