Portal de Cartagena
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The General Secretariat of Regional and Local Coordination, Ministry of Finance reported to the City of Cartagena a favorable report to the Adjustment Plan submitted by the municipality for the next ten years and has therefore authorized the conclusion of a long-term credit to meet the debt payments to suppliers, at approximately 37 million euros.
Councillor for Finance, Fatima Suanzes, expressed his satisfaction with the approval of the ministry, as it demonstrates the economic and management of the City of Cartagena to meet its obligations.
As of Tuesday May 8, the services of the Department of Finance are involved in revising the list of creditors and unpaid bills, to determine the exact amount of credit, which will have a repayment term of ten years, with two of deficiency and interest that will be around 5 percent.
This operation must be approved by the full by 15 May, likely the 14th, and it is expected that suppliers may start charging for the month of June.
The setting up of the plan, which contemplated retrenchment and rising incomes, will be evaluated every three months by the full City Council.
It will be recalled that plan has two basic objectives: to eliminate the deficit of 19 million and reduce debt (loans to banks) from the current 180.7 million to 28.
Suanzes highlighted the important economic boost that will involve the collection of these debts, because most debtors are self-employed and small and medium enterprises.
Finally commented acceptable level of debt to the city of Cartagena with suppliers, because while the Spanish average is 347 euros per inhabitant, Cartagena is less than half and stands at 173 euros per capita .
Source: Ayuntamiento de Cartagena
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