Nicaragua Foresees US$23 million less for ‘Aguinaldo’

The total amount ‘aguinaldo’ – the year-end bonus – that entered the economy of Nicaragua at the end of 2017 was US$377.1 million, according to official estimates, but at the end of 2018 there would be US$23 million less, due to the loss of jobs since mid-April, estimates the Nicaraguan Foundation for Economic and Social Development (Funides).

This calculation was made taking of reference the reduction in the formal labor market of workers inscribed to the Nicaraguan Institute of Social Security (INSS) and the average salary of contributors.
According to data from the Central Bank of Nicaragua (BCN), INSS policyholders have decreased by 134,347 people between March and August. In this context, Funides estimates that around 182,000 people would be out of the formal labor market at

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