The Puerto Rico Bankers Association expressed concern Thursday over the possibility of a reduction in working hours for public servants, saying it would deliver a blow to the economy.
“We recognize the economic impact the proposed reduction in working hours would have on Puerto Rican families employed in the public sector. Specifically in terms of their financial commitments, including home, car and personal loans, among others,” said Zoimé Alvarez-Rubio, executive vice president of the Association.
“For banking, and other industries, the biggest challenge is the lack of economic growth. However, we are confident in the ability of our member banks to confront this fiscal outlook and continue to support Puerto Rico,” she said.
To overcome the current fiscal crisis measures should be promoted to encourage the revival of the economy for which the financial industry “is in the best position to contribute,” she said.
“For the banking industry, it is imperative that an agreement between the Fiscal Oversight Board and the government is reached, to achieve laying the foundation for development and sustainable economic growth that is conducive to more investment and new job creation,” Álvarez-Rubio said.