SAN JUAN – The release of $1.5 billion in Community Development Block Grant – Disaster Recovery (CDBG – DR) Program funds following Hurricane Maria should boost Puerto Rico’s economy, which should grow 4.2 percent for fiscal year 2020 and remain in positive territory until 2022, according to new estimates by economic research and consulting firm Estudios Técnicos Inc.

“According to the Consolidated Plan of this federal program, about $1 billion of these funds will be destined to the construction and restoration of housing, so we expect that, by the second half of the year, an increase in housing construction investment will be seen, and with it, an increase in cement sales, as well as in construction employment. We also expect increases in the retail sale of construction materials and home supplies,” Estudios Técnicos President Graham Castillo said in a statement.