Puerto Rico Revises Fiscal Reform Plan Amid Growing Deficit

January 18, 2016 9:03 PM

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Puerto Rico is revising a fiscal reform plan to reflect a jump in the island's projected deficit and steep drop in anticipated revenues.

The government says the deficit is now projected to grow from $14 billion to $16 billion over the next five years due to the U.S. territory's worsening economic crisis.

Also read: U.S. Sets January Push for $1 Trillion Infrastructure Revamp

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