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.

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)