In a surprise upset, Puerto Rico congressional representative Jenniffer González defeated Governor Pedro Pierluisi in the primary held by the pro-statehood New Progressive Party. González obtained 56% of the vote compared with Pierluisi's 44%. Earlier on Sunday, Puerto Rico Rep. Jesús Manuel Ortiz defeated Sen. Juan Zaragoza in the primary held by their Popular Democratic Party. Zaragoza conceded defeat after obtaining 38% of the votes compared with Ortiz's 62%. The candidates face disgruntled voters on an island still struggling with chronic power outages and awaiting completion of reconstruction projects following Hurricane Maria. Power outages were reported at more than a dozen voting centers, including one where Ortiz arrived to cast his vote, forcing officials to revert to a manual process. [92f92543] [02c17acc] [b97184e3]
The primaries took place amidst voter demands for change and concerns over the island's political status and fragile economy. All candidates face disgruntled voters on an island still struggling with chronic power outages and awaiting completion of reconstruction projects following Hurricane Maria. Power outages were reported at more than a dozen voting centers, and heavy rains also pelted parts of the island. [02c17acc]
The next governor will have to work alongside a federal control board that oversees the island's finances and was created after the government declared bankruptcy. [02c17acc]
In a recent opinion article in The Weekly Journal, Puerto Rico's public companies have shown economic resilience, growth, and performance. The Puerto Rico Economic Development Bank's Economic Activity Index (EAI-EDB) indicated a 3.4% growth in December, marking the 11th consecutive year-on-year rise. The Puerto Rico Planning Board forecasts a 2.8% economic growth for fiscal year 2024, supported by a 21.2% increase in Community Development Block Grant (CDBG) Program funds. Inflation in Puerto Rico is expected to stabilize at 2% for fiscal year 2024. Puerto Rico banks reported 1Q24 consolidated revenues of $1,298,802 billion and net income of $226,475 million. [6e93cbed]
Puerto Rico Governor Pedro Pierluisi attended the Elevate Summit: Business Growth Opportunities | Local & Federal Contracting at the Puerto Rico Convention Center in San Juan's Miramar sector. The summit aimed to provide tools to help entrepreneurs expand their businesses sustainably and stimulate the island's economic development. The governor highlighted the successes of his administration, including economic growth, job creation, and initiatives to support small and medium-sized enterprises (SMEs). The summit also included discussions on Puerto Rico's Smart Island Initiative and the 21st Century Techforce initiative. [8adfc2b3]
The 2024 REDI Summit on March 5 aimed to boost Northern New Mexico's economy through collaborative planning and innovative strategies. The summit reviewed the updated 2023 Regional Economic Development Initiative Plan, focusing on technology, infrastructure, and workforce development. [e2011d41]
Under Secretary for Economic Growth, Energy, and the Environment Jose W. Fernandez co-hosted the second high-level meeting of the Economic and Health Dialogue of the Americas (EHA) in Punta Cana, Dominican Republic. The meeting involved ministers and vice ministers from 19 countries and focused on health systems strengthening and supply chains. [76313ed9]
The main opposition United Workers Party (UWP) launched a Dominica economic revival summit 2024 scheduled to take place in June. The summit aims to bring together key stakeholders to engage in constructive dialogue and collaboration on sustainable growth and development. [f505a3b5]