February 28, 2017 / 11:40 PM / in 9 months

Puerto Rico governor says fiscal turnaround plan will save $3.8 bln/year

Feb 28 (Reuters) - Puerto Rico Governor Ricardo Rossello on Tuesday said his fiscal turnaround plan for the U.S. territory will create $3.8 billion a year in savings, including cutting $550 million a year in spending on public healthcare.

Rossello discussed the plan during a speech to the island’s legislature. He was scheduled later on Tuesday to present the turnaround plan to a financial oversight board, which was appointed by U.S. lawmakers last year under the Puerto Rico rescue law known as PROMESA. (Reporting by Nick Brown, editing by G Crosse)

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