Puerto Rico paying its annual Christmas bonus

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Puerto Rico’s government announced it would pay its annual Christmas bonus to workers this year.

The government, which first defaulted on its general obligation debt in summer 2016, said it would start paying the bonus on Friday.

All government workers who have put in more than 960 hours of government work in the previous 12 months are contractually entitled to the bonus.

“It is important that we advance this well-deserved payment to help our public employees and encourage an economy that faces great challenges,” said Gov. Ricardo Rosselló.

Regarding the island’s public corporations, Rosselló said each body should evaluate its fiscal situation and make the bonus payments as soon as possible.

In 2015 the central government paid out $120 million in Christmas bonuses.

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PROMESA Government finance University of Puerto Rico Commonwealth of Puerto Rico Puerto Rico Industrial Development Co Puerto Rico Employees Retirement System Puerto Rico Public Finance Corporation Puerto Rico Infrastructure Financial Authority Puerto Rico Highway & Transportation Authority Puerto Rico Aqueduct & Sewer Authority Puerto Rico Public Buildings Authority Puerto Rico Electric Power Authority Puerto Rico
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