Very much like neighbouring Silves (read below), Lagoa borough council has slashed its budget for 2014, coming in at just €27 million.
It’s 10% less than last year’s budget and over €20 million less than the budget in 2010.
Over €21 million will go towards ‘current expenditures’ (expenditure on goods and services consumed during the year), while nearly €6 million will be directed at capital spending (on projects with an eye to future benefit), said the council.
Also approved was the ‘Grandes Opções do Plano’, which serves as the municipality’s guide to an economic and social development policy, to the tune of over €17 million, as well as €457,000 to be divided between the parishes of Porches, Estômbar, Parchal, Ferragudo, Carvoeiro and Lagoa.
Photo: Lagoa Mayor Francisco Martins