Benalmádena reduces its municipal debt to zero five years ahead of schedule while still offering 'cheapest vehicle tax on Costa del Sol'

The Mayor of Benalmádena, Juan Antonio Lara, has announced that the town hall has one of the healthiest public accounts in the province of Malaga, having managed to reduce its debt to zero. This was achieved five years ahead of schedule, as the original repayment deadline was 2030, which the mayor said was a milestone that had not been reached in over 30 years.

The debt that has been repaid amounted to more than 1.25 million euros, “all while increasing major investments across the municipality and lowering taxes”.

“The payment that this town hall used to make reached 24,400 euros per month. We are rapidly recovering the time lost in previous administrations,” Lara said. He thanked all councillors for “making this possible, ensuring that what was budgeted for each department in each financial year was executed correctly.”

“This town hall no longer owes anything to the banks; it is solvent for the first time in over 30 years, a clear example of sound public finance management.”

Meanwhile, finance councillor José Miguel Muriel said that reaching zero debt demonstrates “a tremendous political and technical effort over two intense years of the legislature”.

“We knew how to adjust spending where necessary, sought savings on interest, and were mindful of every penny of the citizen’s money, while at the same time investing in projects crucial for residents to fulfil our commitments to the public,” Muriel added.

The councillor also pointed out that “most importantly”, taxes have been reduced: “We have the lowest vehicle tax on the Costa del Sol, and we have reduced property tax (IBI) by up to 50 per cent for large families.” Regarding payments times to suppliers, he said the council has reduced them to under 15 days - less than half the period required by law.