38 C
Dubai
Friday, September 22, 2023
spot_img

World News | Federal board approves $12.7 billion budget for Puerto Rico, emerges from bankruptcy

[ad_1]

Streaks of light seen in California. (Photo credit: Video Grab)

SAN JUAN, June 30 (AP) — The Federal Control Board, which oversees Puerto Rico’s finances, approved a $12.7 billion general fund budget Friday that includes increases for teachers, judicial employees and the U.S. territory’s public universities.

It is the largest budget ever approved in the island’s history.

Read also | Bangkok shock: A woman has lost a leg as rescuers amputated it to free her when she was trapped in a moving walkway at Don Mueang International Airport.

Most of that funding ($2.6 billion) will go to education, followed by $1.2 billion for public safety, $600 million for the University of Puerto Rico and $555 million for the island’s health department.

The approval came as last-minute debate threatened to derail the proposed budget, which was slightly higher than last year’s $12.4 billion budget.

Read also | WhatsApp feature update: The messaging platform owned by Yuan now allows users to transfer chat history between devices on the same operating system.

The new budget, which was previously approved by Puerto Rico’s legislature and governor on Thursday, will take effect on July 1.

It’s Puerto Rico’s third balanced budget, which officials say will help Puerto Rico return to capital markets after emerging from the largest municipal bankruptcy in U.S. history last year.

If a fourth balanced budget is approved next year, it would mark the end of the federal control board created by Congress. (Associated Press)

(This is an unedited and auto-generated story from a syndicated news feed, the latest staff may not have revised or edited the body of content)


[ad_2]

Source link

Related Articles

UAE Advises Citizens in New Zealand After Flooding

The UAE Embassy in Wellington has issued a Twitter advisory to its citizens in New Zealand, urging caution in the Gore and Queenstown areas...

Indian fugitive Nirav Modi now in private London prison

Nirav Modi, the Indian fugitive facing fraud and money laundering charges, has been transferred from a crowded UK prison to a privately-run facility in...

Guinean Cycles 4,000km to Pursue Islamic Studies Dream in Egypt

Mamadou Safayou Barry, a Guinean man, cycled 4,000 km across West African countries to pursue Islamic studies at Egypt's prestigious Al Azhar University. Despite...

Philippines Issues Health Warning for Volcanic smog

A restive volcano near the Philippine capital Manila emitted elevated levels of sulfur dioxide and volcanic smog on Friday, leading authorities to close schools...

Indian Parliament Reserves One-Third of Seats for Women

The historic Women's Reservation Bill, which allocates 33% of seats for women in both the Lok Sabha (Lower House) and state assemblies, has been...

Latest Articles