Benalmadena Pays Off All Its Debts

Benalmadena has managed to salary disconnected each its debts and put nan municipality’s slope equilibrium backmost to zero for nan first clip successful complete 30 years, 5 years up of its 2030 objective. 

Mayor Juan Antonio Lara announced that nan municipality hallway has afloat paid disconnected its outstanding indebtedness of €1.2 million, which will prevention nan assembly €172,000 annually successful liking payments. The achievement, described arsenic a “clear illustration of sound guidance of nationalist accounts,” mirrors a akin occurrence successful nan neighbouring municipality of Estepona, which besides cleared its €304 cardinal indebtedness earlier this year, arsenic reported by Euro Weekly News.

Mayor Lara stressed that Benalmadena’s indebtedness elimination was accomplished while expanding investments successful awesome municipal projects and reducing taxes. “This municipality hallway nary longer owes thing to nan banks and is solvent for nan first clip successful complete 3 decades,” he stated. Previously, nan assembly paid €24,400 monthly to work nan debt, and nan elimination of these liking payments will importantly fortify assembly finances.

Mayor says Benalmadena “recovering” aft debts paid off

The politician credited nan accomplishment to nan diligent efforts of his management complete nan past 2 years, highlighting a 97 per cent fund execution rate, accrued gross collection, and a doubling of investments. “We are recovering mislaid clip astatine awesome speed,” Lara said, thanking his squad for their domiciled successful making this “historic achievement” possible.

Benalmadena now has 1 of nan lowest conveyance taxes connected nan Costa del Sol and has reduced nan Property Tax (IBI) by up to 50 per cent for ample families. Additionally, nan assembly has reduced its supplier costs play to nether 10 days successful immoderate cases, good beneath nan ineligible request of 30 days.

This financial turnaround successful Benalmadena echoes Estepona’s caller success, wherever Mayor José María García Urbano announced a “zero debt” position aft clearing €304 cardinal successful inherited debt. Estepona’s accomplishment allowed for a historical 20% simplification successful IBI for 2025, redeeming astir 38,000 households a corporate €6.1 million. Both towns guidelines arsenic models of fiscal work connected nan Costa del Sol, demonstrating that disciplined financial guidance tin lead to important taxation alleviation and improved services for residents.

Benalmadena’s debt-free position positions it for early growth, pinch plans to redirect savings into further organization projects. According to section residents, investments are missing successful water supply, energy proviso improvements, sound simplification and roadworthy repairs.