November 23, 2020

PR Headline News

Top Stories Without The Fluff

Government identifies the funds for the payment of the Christmas bond


Governor Wanda Vázquez Garced reported that the necessary funds have already been identified to comply with the payment of the Christmas Bonus to the employees of the central government and it is only waiting for the approval of the Fiscal Oversight Board (JSF).

“As you know, the payment of the Christmas Bonus to public employees is a priority for my administration. The Office of Management and Budget (OGP) has already identified the $ 23 million to complete the $ 63 million necessary and fulfill this commitment. Once we have the approval of the Fiscal Supervision Board, the Department of the Treasury will begin the process to send this money ”, said the first executive.

Vázquez Garced explained that the $ 23 million identified come from an item of funds from the ‘PayGo’ or payments from the Retirement System of public employees.

“This money will be used to complete the bonus payment for 98,535 central government employees at this time when the finances of many families are affected by the effects of the COVID-19 pandemic and the terrible impact it has had on the country’s economy. ”Said the governor.

Vázquez Garced assured that the transfer of the identified funds will not affect the ‘PayGo’ system, so he hopes that the Board will not show any objections.

“We are confident that the Board will approve the proposal that has been presented for the benefit of thousands of government employees. The process of analysis and identification of funds for the payment of the Christmas Bonus began approximately two months ago. As part of the ordinary procedures, on October 1 we sent the memorandum to all agencies so that they could submit the required information on or before October 15 and last Saturday we submitted the official proposal for the consideration of the Fiscal Oversight Board ” he explained.

For his part, the Secretary of the Treasury, Francisco Parés Alicea, explained that the projection of collections of the Department for September and October is approximately $ 460 million above the estimated and that to the extent that the pandemic is controlled, which is the main factor that is affecting collections, the economy will normalize.



Source link