Puerto Rico Gov. Ricardo Rossello projected Thursday that his bankrupt, hurricane-ravaged territory will carry budget gaps for the next four fiscal years, leaving nothing to pay back its $72 billion in bond debt until 2022 Reuters reported.
Rosello released the projections Thursday in a revised fiscal turnaround plan, which assumes a minimum of $35.3 billion in federal aid through the U.S. Federal Emergency Management Agency's public assistance program. The money would help the island recover from Hurricane Maria.
A previous plan projected $800 million a year for debt repayment, about a quarter of what it needs annually. That was before Maria killed dozens of people, cut power to millions of residents and damaged properties.
U.S. & World
The new plan projects Maria will spur increased inflation and nearly triple a contraction in gross national product this fiscal year, as well as drive some 600,000 more people from the island in the next five years.