With an estimated $700 million in the Government Development Bank’s coffers and a Treasury Department that reported $488.6 million in revenue collections in November, Gov. Alejandro García-Padilla announced Sunday public sector employees will receive their Christmas bonuses, as established by law.
The Puerto Rico Government Development Bank announced today it has met its scheduled payments of $354 million in principal and interest after Gov. Alejandro García-Padilla instructed his fiscal team to redirect available revenues from other instrumentalities by activating contractual clawback provisions.
Puerto Rico’s economic activity increased by 1.0 percent on a year-over-year basis in October, and reflected a month-over-month increase of 0.2 percent, according to the Government Development Bank’s Economic Activity Index released Monday.
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