Hacienda and the Fiscal Oversight Board close preliminary figures for fiscal year 2025

Department of Hacienda acting secretary Nelson J. Pantoja and Fiscal Oversight Board executive director Robert F. Mujica Jr. reported that net General Fund collections at the official close of fiscal year 2024-2025 exceeded the projections set in the Fiscal Plan certified under PROMESA.

The preliminary balance reflected government revenues above $12,800 million, driven primarily by employer income-tax withholdings on private-sector payrolls, IVU performance in SURI, and stability in corporate taxes under Ley 52 of 2022. The management allowed a healthy liquidity cushion to be kept in the Treasury Single Account.

Fiscal Oversight Board chair David A. Skeel Jr. and executive director Robert F. Mujica Jr. recalled that for Puerto Rico to complete the PROMESA-exit requirements stipulated in section 209, the government must keep consecutive balanced budgets validated by timely audited financial statements. The fiscal authorities began the formal close of the accounting books.

Source: Caribbean Business. https://caribbeanbusiness.com/hacienda-y-junta-fiscal-cierran-cifras-preliminares-del-ano-fiscal-2025/