Most Algarve Câmaras are facing serious financial problems, with escalating debts they are unable to pay, warns Portimão’s Mayor.
Manuel da Luz is blaming the housing crisis as less money is coming in from property transfer tax (IMT), which has fallen 67%.
Portimão Câmara has seen receipts slump by 54% in the first two months of the year in comparison to the same period in 2011.
He added that most Algarve Câmaras were facing similar “emergency situations” because of the significant fall in receipts.
