Public Debt: On Red Alert

September 2008 | Economic Analysis

BMI View: While the major ratings agencies have recently affirmed a 'stable' outlook on Puerto Rico's credit rating, we remain extremely concerned about the state of the Commonwealth's public finances. Total public debt is set to reach an ominous 86.8% of GDP in Fiscal Year 2008 (FY2008), and with the economy still in the throes of recession, the risks are heavily weighted to the downside.

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