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Compared to the 30 million euros in which the financial debt was placed in November 2015, the session will end the year with a debt of close to 20 million euros.

The Councilor for Finance of the City of Torre Pacheco and Spokesman of the Government Team, Carlos López, presented the data and forecasts of debt towards the end of 2016. Since the inauguration of the new government team in November 2015, The City Council has amortized more than 7.5 million euros of debt, which, together with the 2.5 million that it plans to meet by the end of the year, represent a reduction of 10 million euros, a third of the total.

Lopez stressed "the enormous economic effort that has meant for the municipal coffers the fulfillment of the objectives that the government team marked for almost a year," and stressed that "both current and anticipated amortizations have as their ultimate goal To be below 75% of debt, the objective set by the Ministry of Finance to allow municipalities to make investments in charge of the account surplus. "

"At the end of fiscal year 2015, the debt level stood at 99.9%. With the amortization data we have, we are in a position to affirm that in the first half of 2017 the City will reduce its indebtedness below 75 %, So that we can face in the medium term investments financially sustainable using the surplus of municipal accounts, "said the Councilor for Finance.

López added that "in the coming months new actions are also planned with the objective of reducing debt, such as the sale of plots in the industrial estates of Dolores de Pacheco and Balsicas, whose income will be earmarked for prepayment of loan installments Banking ".

The financial debt of Torre-Pacheco City Council, which in 2007 was practically nil, grew in the heat of the housing boom and the subsequent economic crisis, which caused a huge lack of liquidity and the consequent adhesion of the City to the two plans of payment to suppliers Of the Ministry of Finance in 2012 and 2013, for an amount close to 23 million euros.

The rest of the debt is concentrated in loans for the realization of investments, such as the new City Hall building, with a cost close to 15 million euros.

Source: Ayuntamiento de Torre Pacheco