Faro Mayor Macário Correia is determined to share with citizens the truth about the câmara’s €70 million debt, which he says is responsible for many businesses going bankrupt and people losing their jobs.
In a statement sent to the press on Monday, Macário Correia said there are many project he wants to develop for the council but is unable to do so due to the “worsening crisis” and the €70 million debt that accumulated from 2002 and 2009.
Blaming the previous PS Câmara office, he said: “There was money coming into the Câmara’s coffers then, but instead of keeping the debt under control, it was allowed to grow bigger than the receipts generated. This is where the problem lies.”
He added that the “inherited” debt has been responsible for some businesses going bankrupt, leaving many people unemployed.
The mayor said that in 2010 and 2011, the câmara was able to pay €7 million of the “old debt” but falling receipts, increased IVA on public street lighting (by 17%) and the government’s demand for €200,000 of the property tax (IMI) coming into Faro Câmara were making matters worse.
Macário Correia calls on citizens to be “understanding” and to help the Câmara overcome this difficult period – “the worst ever”.