Fiscal Control Board certifies consolidated budget for fiscal year 2025

The Fiscal Control Board certified on Monday the consolidated budget of the Government of Puerto Rico for fiscal year 2025. The figure reaches 33.3 billion: 13.1 billion from the general fund, 4.9 billion from the special-revenue fund and 15.3 billion from the federal fund.

“The budget for fiscal year 2025 includes important investments in education, health and infrastructure to support not only Puerto Rico’s recovery and economic growth, but also the quality of life for all Puerto Ricans,” said Board executive director Robert Mujica in written remarks.

Mujica insisted that budgets have to stay balanced all year, not only at the start. He recalled that in prior years the Government approved spending outside the budget process and said that process must be reformed. According to the Board, PROMESA requires that every obligation be established and accounted for.

The general-fund budget raises total spending 3% versus the prior fiscal year and includes additional money for social programs: assistance to older adults, mental health, early childhood and violence prevention. It also covers critical services in education, health, public safety, social welfare and economic development.

There are 432 million more for education and 121 million from the Government for the University of Puerto Rico, subject to the UPR committing to goals of academic excellence, economic development and financial responsibility. Fifteen percent of the total budget — 4.9 billion — goes to education. Another 100 million goes to health and welfare, including mental health, intellectual disability and medical residencies; 20% of the total — 6.6 billion — is destined for health.

The plan adds 242 million in new infrastructure investments (health centers, road maintenance, ferry, water quality and flooding) and 132 million for municipalities, including 30 million for those of greatest need. It provides 43 million more for the 2024 elections (ballots, staff and educational advertising).

The Board also certified FY2025 budgets for PREPA, the UPR, COFINA, PRIDCO, COSSEC and CRIM. It had already certified those for AAA and ACT.