NEW YORK, March 13 Puerto Rico on Monday laid
out a revised fiscal turnaround plan forecasting $900 million in
new revenues in the next fiscal year, and another $850 million
in spending cuts to the U.S. territory's federally appointed
financial oversight board.
Gerry Portela, the executive director of the Fiscal Agency
and Financial Advisory Authority (AAFAF) told the board the plan
would also save $100 million in fiscal 2018 healthcare spending.
The board, meeting in New York, is required to approve a
turnaround plan for the U.S. commonwealth which is working to
restructure some $70 billion in debt.
The board is expected to vote on Monday whether or not to
accept the revised plan. The interim executive director of the
board, Ramon Ruiz Comas, speaking during the meeting recommended
that the revised plan be certified.
(Reporting By Nick Brown; Editing by Chizu Nomiyama; Editing by