Puerto Rico Statistics Institute participates in the hearing of the Natural Resources Committee of the United States House of Representatives

Washington, DC — June 21, 2024. The Puerto Rico Statistics Institute (Institute) participated in the hearing of the Subcommittee on Indigenous and Insular Affairs of the Committee on Natural Resources of the United States House of Representatives. During the hearing, entitled Examining the findings of the Government Accountability Office (GAO) to address data breaches and improve data collection in the territories, the importance of having high-quality statistics for effective democratic governance and the appropriate allocation of government resources was emphasized.

The representative of the Institute at these hearings, Mr. Jacobo Orenstein Cardona, said that the Institute supports the recent GAO report, which recommends “that the Director of the Office of Management and Budget (OMB) ensure that your Chief Statistician develops a coordinated approach at the government level so that federal statistical agencies, in consultation with U.S. territories and other stakeholders, examine the costs, benefits and feasibility of including territories in statistical products and, as appropriate, identify ways to address any data gaps.”

During his presentation, Orenstein-Cardona, who is also the Institute's executive assistant, emphasized that “high-quality statistics are fundamental to a functional democracy because they provide a factual basis for making informed decisions. In a democratic society, the ability of citizens to make educated decisions about their governance and policies is paramount.”

Among other issues, Orenstein-Cardona emphasized that “high-quality statistics help in the allocation of government resources, since they indicate where more investment is needed, whether in education, health, infrastructure or other areas. They also promote a culture of responsibility, where public officials are responsible for their decisions and the results obtained.”

Orenstein-Cardona concluded his presentation by mentioning that, “through collaboration with federal and local governments, the Institute can serve as an intermediary and contribute significantly to the inclusion of Puerto Rico in federal statistical products. This will allow for comparability with other jurisdictions in the United States and will improve the reliability of statistics for the benefit of the entire population of Puerto Rico.”

The Puerto Rico Statistics Institute is an autonomous governmental entity responsible for coordinating the Government's statistical production service to ensure that the data collection and statistics systems, on which public policies are based, are complete, reliable, and have quick and universal access.

For more information you can visit the website: www.estadisticas.pr or write to preguntas@estadisticas.pr. They can also follow social networks through Facebook (@estadisticas .pr), X (@EstadisticasPR), LinkedIn (Institute of Statistics of Puerto Rico) and Instagram (@institutodeestadisticas) accounts.

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Private sector slightly increases investment in Research and Development activities in Puerto Rico despite reductions in other sectors

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The Puerto Rico Institute of Statistics will provide guidance on how to access and interpret Puerto Rico's financial statistics in the "Financial Statistics" webinar this Thursday, May 21.

The Puerto Rico Institute of Statistics announced it will host the "Financial Statistics" webinar, an educational initiative aimed at presenting and contextualizing the main indicators of Puerto Rico's financial system, as well as the official sources available for their analysis and interpretation.

The event will take place this Thursday, May 21, 2026, from 10:00 a.m. to 11:30 a.m., as part of the Institute's Academies and Workshops Program. The webinar will be offered virtually via the GoToWebinar platform, will include 1.5 contact hours and will be free of charge, although prior registration is required via the following link: https://register.gotowebinar.com/register/8839159147111590485.

The speaker will be the Institute's statistical projects manager, Dr. Ronald G. Hernández Maldonado, who will discuss indicators published by entities such as the Office of the Commissioner of Financial Institutions (OCIF), the Public Corporation for the Supervision and Insurance of Cooperatives of Puerto Rico (COSSEC), and the Puerto Rico Institute of Statistics itself.

Topics to be discussed include the main data sources for financial statistics used in Puerto Rico, the interpretation of economic and financial indicators, and the official platforms where the public can access this information for analysis, research, and decision-making.

“Financial statistics provide a better understanding of the behavior of various economic sectors and facilitate informed decision-making in both public and private spheres. Access to and understanding of this data is fundamental for promoting more precise analyses of Puerto Rico's economic reality and strengthening the use of official and reliable information,” said Hernández Maldonado.

"Financial education based on empirical data is the first step towards more accurate decision-making, both personally and collectively. We encourage all citizens to participate in this free virtual event, designed to make financial statistics an accessible, useful, and highly valuable tool for everyone,” said Dr. Orville M. Disdier Flores, Executive Director of the Institute.

The webinar is aimed at professionals, researchers, students, and individuals interested in the economic and financial analysis of Puerto Rico. As requirements, participants must have an internet connection and access to a computer or tablet.