AGP Executive Report
Last update: 31 minutes agoInvestment: Puerto Rico’s Convention District Authority proposed $24 million in recreational projects: a $4 million public park and PRISA Group’s planned $20 million sports complex. Banking: Banco Popular reported third-quarter net income of $266.3 million, up 26% year over year, with commercial and mortgage lending driving loan growth. Disaster Recovery: FEMA approved nearly $82 million for island repairs and resilience projects, including public housing, roads and recreational facilities. Energy Costs: The fiscal board is pressing New Fortress Energy to secure backup LNG supplies after delivery delays forced power plants to rely on diesel. Community pharmacies warn electricity costs could mean shorter hours or closures. Consumer and Jobs: Puerto Rico’s consumer confidence fell to 22% in September, with utility bills and living costs weighing on households. The unemployment rate rose to 6.2% even as payroll jobs increased, while the island’s economic activity index declined for a second straight month. Business Relief: The government announced federal assistance for businesses affected by drought.
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