Zero debt. It is what the Betxí City Council has right now after approving the amortization of the last loan in force. The good financial management of recent years has allowed the loans contracted in previous legislatures to be canceled in advance, and that weighed down the municipal budget at the rate of € 250,000 annually. From now on, these amounts can be used to carry out new projects and initiatives of the current corporation. This has been announced by the mayor of Betxí, Alfred Remolar, and the councilor responsible for the treasury, Salva Rius.
In total, between 2011 and 2020, the Betxí City Council has paid 4,186,000 euros of loans. These loans were contracted in legislatures prior to 2011, and their purpose was the payment of loans from the Supplier Payment Plan and other project loans such as the purchase of the Palau.
In this way, the Betxí City Council has now finished paying for projects carried out in up to three previous legislatures (2007 and 2011). As Alfred Remolar has detailed, this measure has been taken because the city council has managed, thanks to the correct financial management carried out, to advance the cancellation of the loans by more than 5 years. “We are very satisfied with the work done in recent years in economic matters, since we have been able to meet in advance the main objective of our government, which was none other than to clean up the public coffers and implement a rigorous policy in public finances.”
The amortization of the loans with financial institutions was assuming an item of between 250,000 and 400,000 euros that, on an annual basis, the Betxí City Council had to allocate in its annual municipal budgets to pay these loans; money that could not be used to carry out works or other municipal projects.
As of now, the municipal accounts are healthy, with zero debt, which will allow these budget items to be dedicated to new initiatives and projects decided by the Corporation. In addition, the difficulties of the next fiscal year derived from the coronavirus pandemic can be faced with full guarantee, which will largely determine the actions to be taken in the coming months.
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