Almeria provincial debt nears €500 million

By Matthew Elliott Thursday, 06 July 2017 10:13 0
ALMERIA CITY: Has reduced its debt to a slightly more manageable €90 million. ALMERIA CITY: Has reduced its debt to a slightly more manageable €90 million.

Councils across Almeria are badly in debt, owing banks almost half a billion euros.

Figures just released from the Spanish Ministry of Finance show that the province collectively owes €460 million, posing a serious obstacle to future investment. Among the most debt-ridden municipalities is Albox.

Despite its small size, the town ranks third on the list of the province’s worst offenders. The council owes just shy of €21 million to various banks.

El Ejido is deepest into the red, owing a staggering €182 million, more than double the capital, Almeria City, which has reduced its debt to a slightly more manageable €90 million.

Despite having nine times the population of Albox, Roquetas de Mar fares relatively well, owing only €13 million.

Bank statements across the Almanzora Valley make for woeful reading, with Macael owing €13 million and Huercal-Overa’s debt rising to €10 million.

Nijar’s council owes a hefty €16 million while Mojacar is also seriously in hock to financial institutions.

In terms of relative population Turre comes bottom of the table. Though the council’s overall debt is small, it actually amounts to €2,460 per resident, more than anywhere else in Almeria.

For comparison Albox residents owe €1,848, those in Pulpi owe €526, and Roquetas homeowners owe just €146.

The silver lining is that the overall debt of Almeria’s 103 municipalities is now €12 million lower than it was in 2015.

Just 23 councils don’t owe the banks a penny.

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