Puerto Rico’s Coronavirus Relief Package

Puerto Rico’s Coronavirus Relief Package

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Governor Wanda Vázquez Garced announced, Monday, a package of economic measures of around $1 billion to deal with the emergency caused by the coronavirus.



According to the Governor, among the initiatives is an incentive of $500 to all self-employed citizens that will begin shipping this week.

Also, the government will give an incentive of $1,500 for small and medium-sized companies that had to close operations and do not qualify for federal funds.

She reiterated that the government will continue to pay the salaries of public employees.

The plan establishes bonuses for nurses and other health personnel, as well as law enforcement officials and emergency response personnel.
Bonuses will fluctuate for healthcare workers will fluctuate between $2,500 and $4,000.



 

Meanwhile, the governor also announced that she has reached an agreement with banks and cooperatives to establish a 90-day moratorium on the payment of mortgages, car loans, commercial loans and credit cards.

“We will do everything we have to do to prevent this emergency from having an effect on the productive sector,” he stated, stating that all the measures have the endorsement of the Fiscal Oversight Board (JSF).

Vázquez Garced announced the plan flanked by the president and the executive director of the Fiscal Oversight Board (JSF), José B. Carrión and Natalie Jaresko. The agency would have helped in the preparation of the response.

The first executive added that the Treasury will extend the period for filing income tax returns until July 15.

She also indicated that she ordered a moratorium on the payment of drinking water and electric power services. Also, tolls will not be charged during this emergency.

“The measures we are taking will help us mitigate the economic impact of the crisis we are experiencing. There are some measures that are still under evaluation and that we will be communicating to you soon,” said the president.




The stimulus plan is around $787 million.

This morning the Health Department announced that positive cases of coronavirus in Puerto Rico totaled 31, out of the only 241 tests that have been performed so far.

The agency also confirmed that a 73-year-old tourist from New York became the second victim of this disease on the island.

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