An analysis by the newly created Center for Development Studies (CED) of the Rio Piedras Campus of the University of Puerto Rico (UPR) found that, since fiscal year 2017 - following the imposition of the Fiscal Oversight Board (FOSB)-, only 16 agencies and public entities have suffered budget cuts, in contrast to 76 that have seen an increase, which, in the opinion of economist José Caraballo Cueto, calls into question the “austerity” philosophy promoted by the agency.