Estepona Council reduces "inherited debt" to under 100 million

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ESTEPONA | Estepona Council has announced that up to now it has paid more than 200 million euros off of the inherited debt, which amounted to 300 million euros as of June 2011. Specifically, the municipal debit now stands at 99.5 million euros.

The Mayor of Estepona, José María García Urbano, explained that it is a “milestone in municipal management that with austerity, responsible spending and payments, not only has it managed to not generate any new debt, but in the last eight years it has paid off more than 200 million euros, which represents 66% of the total inherited debit".
"Estepona has undergone a huge transformation and modernization in equipment and infrastructures, which has been accompanied by a serious, effective and responsible management of municipal resources," said García Urbano.
In this way, the Mayor recalled the effort made in the first years of management to balance the municipal accounts, and then, in subsequent years, maintain an economic policy of responsibility, complying with all economic obligations and responding to and settling this inherited debt.

🔷 Tax reduction

In terms of taxes, the Mayor stressed that in 2011 the commitment was made to reduce public taxes, with the IBI and the refuse collection rate already accumulating a reduction of 20% for all residents.
In this regard, he stressed that "the day that this town does not have to use the significant economic efforts that are currently directed to paying off that inherited debt, the town will have sufficient economic resources to continue the pace of investment, continue to improve equipment and public infrastructures and, then, to carry out the largest tax cut in this town, with an IBI reduction of 50%”.