SAN JUAN, Puerto Rico – Puerto Rico's new governor is criticizing orders from a federal control board in the first clash over how best to tackle the island's deep economic crisis.
Gov. Ricardo Rossello said Friday that the board's demands are unacceptable and differ greatly from his vision to promote economic growth. His comments come as his administration faces pressure to submit a revised fiscal plan this month and next month's expiration of a stay on lawsuits filed by creditors.
The control board on Wednesday ordered Rossello's administration to present a plan that would generate $4.5 billion a year in revenue or savings through 2019. Officials said Puerto Rico should reform its tax system and reduce health care and higher education spending as well as the size of government.