Fiscal board explains some of the ‘gaps’ in fiscal plan noted by think tank

By THE STAR STAFF

The Financial Oversight and Management Board has provided some explanations for the “gaps” in the 2023 fiscal plan that were found in a recent analysis by Open Spaces (Espacios Abiertos).

When compared to the previous eight fiscal plans, analysts noted contradictions in the 2023 fiscal plan, including a projected deficit in 2027 following the confirmation of a debt adjustment plan. In the past, the oversight board has said the deficit will be seen in 2044. Analysts at Espacios Abiertos also said the board failed to mention potential savings from fiscal measures. The STAR sent written questions to the oversight board seeking comment.

Asked about the data to support the deficit now being projected for 2027, the oversight board said the fiscal plan reflects current law.