March 1, 2017 / 12:02 AM / a year ago

Puerto Rico fiscal turnaround plan will save $3.8 billion annually, governor says

(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.

Puerto Rico's new governor Ricardo Rossello (R) addresses the audience during his swear-in ceremony outside the Capitol in San Juan, Puerto Rico January 2, 2017. REUTERS/Alvin Baez

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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