Portal de Santomera

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The City Council this year will reduce its debt by 3.6 billion euros (16/09/2016)

Meeting at the regular meeting of September, the Municipal Council last night approved unanimously, joining the current budget of 2,615,972.59 euros intended exclusively for payment of debt.

That amount is bound to start 938,390.37 euros that were already covered for the same purpose in the 2016 budget;

that way, the City of Santomera will spend a total of 3,554,362.96 euros in the chapter on debt reduction.

This extraordinary addition has been made possible through the remainder of the result of subtracting treasury obligations of money in cash and the rights, which at 31 December 2015 amounted to 3,919,445.61 euros.

A has been reached such a high amount has significantly contributed surplus with the general account was closed last year: 1,074,752.58 euros, as recognized also yesterday during the plenary.

According to the Councillor for Finance, Alberto Menárguez, depreciation to be carried out will allow municipal debt will fall this year around 4.3 million euros.

The exact figure, he said, will vary slightly depending on loans on which action is taken and the actual results achieved at the end of the accounting year.

In any case, he adds, will be a "dramatic improvement" halving in just two years, the existing debt.

"When the PP closed its last full financial year in 2014, the debt amounted to 8,763,394 euros. After a year and a half PSOE government which alternative he joined earlier this month, we will close this year with a similar debt existing in 2007, when the popular José María Sánchez Artés came to the mayor, "argues the mayor.

"The debt of a municipality may not be similar to your budget for an entire year. So we did not hesitate. This measure will be very advantageous in the long term but also short, because from next year we spend what we save in interest to make investments that will improve the quality of life for residents, "sums Menárguez.

Source: Ayuntamiento de Santomera

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