Faro council remains tough

Faro council's future remains tough

Faro council has announced that it has finally paid off the €3.3 million of short-term debt owed to its suppliers, using the last of the money provided by the PAEL financial support programme. But the future remains tough. The council now has to pay off around €1 million per year until 2034 to pay back PAEL’s €16 million loan, Mayor Rogério Bacalhau has revealed.