Puerto Rico Unveils Budget That Includes $200M Debt Payment

May 23, 2016 9:58 PM

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Puerto Rico's governor has unveiled a stark budget that sets aside more than $200 million for a critical bond payment as the U.S. territory sinks into a deep economic crisis.

The proposed $9.1 billion budget for the upcoming fiscal year is $700 million smaller than the current one and calls for nearly $3 billion in cuts to government operating expenses.

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