The Puerto Rico Economic Development Bank’s (EDB, in Spanish) Center for Economic Studies confirmed in a report that the inflationary outlook in the US mainland is consistent with the increase in prices perceived by local consumers. During a news conference, EDB President Luis Alemañy said from the lowest point recorded in June last year (-1.7%), […]
The heads of the Puerto Rico Economic Development Bank and the Labor Department signed a collaborative agreement to provide funding and grants from the Small Business Financing-CDBG-DR program to new and existing entrepreneurs who received unemployment and Pandemic Unemployment Assistance (PUA) benefits. People who qualify for the microentrepreneur financing program may receive up to $25,000 […]
The Puerto Rico Economic Development Bank is looking to convert those who benefitted from the Pandemic Unemployment Assistance program into “entrepreneurs instead of employees,” agency President Luis Alemañy said. The Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, passed in 2020 created the PUA program through which thousands of individuals in Puerto Rico […]
The Puerto Rico Economic Development Bank confirmed over the weekend that close to one-sixth of the island’s workers, or about 15.8%, are self-employed. The data was provided at a press conference during the United Retailers Association’s (CUD in Spanish) convention, when EDB President Luis Alemañy said that as Pandemic Unemployment Assistance (PUA) benefits come to […]
Puerto Rico’s Economic Activity Index (EDB-EAI) reached a maximum level of 118.9 points, a number that represents a year-over-year increase of 8%, Economic Development Bank President Luis Alemañy confirmed. “This is the fourth year-over-year increase after 12 consecutive decreases. If compared to the previous month, the EDB-EAI growth rate decreased 0.5%. The interannual results reflect […]
Puerto Rico’s Economic Activity Index (EDB-EAI) for May 2021 reached a maximum level of 119.4 points representing a year-over-year increase of 7.9%. When compared to the previous month, the index rose by 0.2%, Luis Alemañy, president of the Puerto Rico Economic Development Bank, which produces the report, confirmed. The EDB-EAI contracted 5% in 2020, reaching […]
The latest report by the Puerto Rico Economic Development Bank’s Center for Economic Studies confirmed that increases in fuel prices are “affecting business operations and daily life,” agency President Luis Alemañy said. The price of any good can spike when it’s cost of production increases, inventories are scarce or its market demand is on the […]
Puerto Rico Economic Development Bank President Luis Alemañy announced the creation of the Center for Economic Studies to benefit of small- and mid-sized businesses, entrepreneurs and investors. The expectation is that through this center, the bank can regularly publish certain economic and financial metrics from the macroeconomic point of view but landing on the micro […]
The Puerto Rico Economic Development Bank recently distributed $764,593 among four towns to retain a total of 800 direct and indirect jobs, the agency announced. EDB President Luis Alemañy confirmed that funding has been awarded to the municipalities of Lajas, Añasco, Moca and Yauco. This, as part of the Small Business Financing program managed by […]
Puerto Rico’s economic activity showed slight growth in January and February 2021, with 118.8 and 119.3 points, respectively, but took a tumble year-over-year with drops of 3.2% in January and 2.3% in February 2020. Puerto Rico Economic Development Bank President Luis Alemañy said the Economic Activity Index (EAI-BDE) analysis period includes the months when the […]
uerto Rico’s Economic Activity Index, released by the Economic Development Bank, revealed a 6.4% year-over-year drop in December 2020, marking the 10th consecutive decline after 20 months of year-on-year increases. Agency President Luis Alemañy said the EAI reached a level of 115.7, which was essentially flat — showing a 0.3% increase — when compared to […]
The Economic Development Bank for Puerto Rico got approved and will receive $1 million from the U.S. Department of Agriculture’s Rural Development office, EDB President Luis Burdiel announced. “This capital injection will be used to provide loans for small and medium enterprises in rural areas of the island to promote new job creation,” Burdiel […]
Puerto Rico’s Economic Activity Index reached 120.4 in October, with indicators reflecting a “substantial improvement."
The Economic Development Bank has a specific agenda it will follow to promote local small and mid-sized enterprises, including the creation of a training institute for entrepreneurs, agency President Luis Burdiel-Agudo said.
Gov. Luis Fortuño announced Monday the government has granted $103 million in loans through programs run by the Economic Development Bank, under the “Because You Can” initiative that caters to small- and mid-sized businesses and pursues job creation and economic activity.
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