Puerto Rico Economic Pulse ©

August 2004: Remaking The Miracle with PR 2025-Part II

Highlights of a novel strategic plan for Puerto Rico

Confronted with some structural problems, Puerto Rico needs a strategic plan to fight back. This is precisely what PR 2025 is: a long run socioeconomic plan built upon our flaws and also upon our dreams. In this issue, we introduce the highlights of this strategic plan, without missing any of the important components of our reality, from economic to social to environment and infrastructure development. After one year of hard and exhilarating work by twenty-five task forces, the plan is ready. Now is the time for action. We review what needs to be done in order to fulfill our dreams.

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.

Puerto Rico Economic Pulse ©

June 2004: The Housing Fever

Latest trends and perspectives of the housing market in Puerto Rico

Housing is one of the cornerstones of our economy. It is a sector that has gone unscathed during the recent economic slowdown, a sector that spurs construction, keeps the banks thriving, and fuels consumption through refinancing. A soft monetary policy has boosted mortgage loans as never before, and such a demand has pushed up housing prices in. In this issue, we review the latest trends in housing and the effects of the extremely low interest rates over this sector. Find out how housing prices have behaved and what the future might bring to housing and the overall economy.

Puerto Rico Economic Pulse ©

May 2004: Managing a Priceless Asset

Enhancing competitiveness requires improving water management

No social or economic development goals can be met without adequate and efficient provision of water. In simple words: water is vital, without it, life cannot exist. Despite the fact that water is an infinitely renewable resource and that Puerto Rico is well endowed with water resources, the faces a tremendous challenge in improving water management. Ensuring quality of service, maintaining water reserves, and revamping the water governing system require critical measures for enhancing future quality of life and competitiveness. This issue analyses the challenges of managing water in, a task that has bounced from the Government to the private sector and back to the hands of the Government.

Puerto Rico Economic Pulse ©

April 2004: S.O.S: WHERE THE JOBS ARE GOING?

On the process of outsourcing and implications for Puerto Rico

A phantom is roaming the planet and rattling the nerves of first world professionals: outsourcing. The service sector, the untouched harbor of many professionals in the US as well as in Europe, has witnessed the exodus of thousands of jobs to more attractive destinations. In this issue, we address this new phenomenon, which is revolutionizing labor markets across the globe and leaving many wondering whatever happened overnight. We provide some insights on the recent trends of worldwide outsourcing and examine the implications for Puerto Rico. Join us for an analysis and call to action of what PR should do to avoid being a loser in this global contest.

Puerto Rico Economic Pulse ©

March 2004: Welcome Back Recovery

A review of the PR economy in fiscal 2003 and forecasts for 2004 through 2006

Yes, it is true. Recovery has finally returned. After a shallow plunge in fiscal 2002, the PR economy perked up in fiscal 2003. The economy managed to go through high oil prices, new onerous excise taxes and a hostile international environment, featuring war, loss of jobs and a sickly stock market. We are indeed back on the path of positive growth, but it is yet too early to celebrate. Despite the promising outlook in the short run, our economy needs to overcome structural flaws and will have to rethink itself. Join us for a review of the main developments in fiscal 2003 and our forecast up to fiscal 2006. This issue will also discuss the challenges that lie ahead.

Puerto Rico Economic Pulse ©

February 2004: Let Energy Foster Tomorrow’s Growth

Transitioning into a new energy phase is critical to PR’s competitiveness

The economy runs on energy. It is a fact that all economic activities require the consumption of energy. The intrinsic relationship between energy consumption and economic growth urges to secure energy reserves to spur long-term growth. In addition, future competitiveness will depend, in part, on attractive energy prices and lower environmental impacts. This issue presents a brief assessment of the energy sector in and highlights the necessary steps to enforce a transition towards a new energy phase in the island.

Puerto Rico Economic Pulse ©

January 2004: The Future lies in Education Today

Some ideas for a new vision

Compared to other economies in the region, Puerto Rico’s educational system has lowered the historically low levels of illiteracy and increased the demand for professionals, such as, engineers, registered nurses, and teachers. Despite such success, there are problems. In this issue, find out how the island compares internationally; what are the threats and possible outcomes if solutions are not adopted. Can PR afford to squander its most valuable resource: people? Is this the time to develop a new vision of what the new educational system of Puerto Rico should look like in the next twenty years?

Puerto Rico Economic Pulse ©

December 2003: Uncertainties and Expectations in 2003

How global trends and economic news shaped the year

Year 2003 was tough, with challenging global trends shifting towards China and India; continuing US and worldwide economic slowdown, the war against Iraq, and some signs of recovery that are just now more obvious. Puerto Rico experienced stagnation in public construction, continuing high unemployment, efforts to initiate a tax reform and mixed signals in manufacturing. In this issue, find out what is at stake if Puerto Rico does not embrace a new vision of the future.

Puerto Rico Economic Pulse ©

November 2003: Where do we stand?

Assessing Puerto Rico`s position as part of a visioning process

Globalization and continuous changes in world economic trends press policy makers to constantly assess development goals in order to enhance national competitiveness. Puerto Rico is no exception. Assessing its competitiveness and international standing is a critical component in the formulation of a long-term vision. In this issue we present a series of comparative measures that examine Puerto Rico against regional and global players. Specifically, we compiled comparative indicators that point to Puerto Rico`s position and need of a strategic vision in key areas within economic and social development and the environment.