Faro in debt

FARO CÂMARA has revealed in a report that it has 14.7 million euros of debt over the legal allowance and needs more money still to ensure payment of current projects.

The Câmara’s total debt at the end of September was 57.1 million euros with short term debt being 18.1 million euros, including construction projects that are ongoing and already concluded.

The report also revealed a fall of 300,000 euros in total debt, excluding companies administrated by the Câmaras such as the Municipal Markets. Medium and long term debt fell from 35.6 million euros to 34.1 million euros.

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