Lagoa cuts debt by €2.5 million

Lagoa council has announced that it reduced its debt from €9.4 million to €6.8 million between December 31, 2013 and December 31, 2014, now self-described as the “second least indebted municipality of the Algarve”.

In a statement, the council said the reduction proves that a “rigorous, transparent and disciplined” financial management can coincide with a “strong investment in infrastructures and the social sector”.