Faro last week saw the proposal approved by it to the Local Economy Support Program (PAEL) and will soon receive the amount of 21,3 million euros to pay off short-term debts already overdue.
The value attributed to the municipality of Faro is a little below the original request, around 24 million euros.
The finalization of the process, that is, the arrival of money in the municipality's coffers, will happen as soon as there is a green light from the Court of Auditors, something that the president of the Chamber of Faro Macário Correia, in statements to the Sul Informação, expects it to be “quicky”.
"I assume the money will arrive in January," he said, but did not provide further details on the process, saying "I cannot publicly pronounce" on the issue at this time.
The mayor sent more details to a press release, which reached newsrooms this Monday. "Of the approximately 12 million euros that the City Council will possibly receive in January in the 1st tranche, 8,7 million euros are intended to pay debts related to the previous mandate from 2007 to 2009," the document reads. These 12 million euros correspond to 60 percent of the global amount of support for Faro.
Payment will continue in two more tranches, each of 20 percent of the total amount, which will reach the municipality's coffers “on proof of full payment, in chronological order, of the eligible debts covered by the previous tranche”.
In the note, the municipality is pleased with the approval of the proposal to the PAEL that "will allow the regularization of the debt contracted by the Municipality after 2007, completing the effort that has been developed in recent years and that allowed the debt legally contracted from the 2000s to be paid at this time. to 2006'.
«This extraordinary financing also allows the injection of capital in the council's companies, being, therefore, also an important contribution to the financial balance of the economy of Faro. For the municipality, it is the only way to honor commitments that have been made for a long time and, above all, it brings new hope in economic revitalization», added the Chamber.
Last October, one day before presenting the proposal to the PAEL, Macário Correia spoke about the settlement of «14 overdue invoices», from thousands of suppliers, «427 percent of which are companies in the municipality of Faro».
PS is also happy for the approval of PAEL
The PS/Faro "positively" registered the approval of the proposal for Faro to PAEL, in a note sent to newsrooms last Thursday, a day after the Chamber of Faro having received the news that he would benefit from the program's assistance, albeit for a lower amount than requested.
«The Socialist Party, which voted in favor of the signing of this contract, stresses, however, that the Municipality of Faro it has not respected the chronological order of payment of bills, deliberately leaving previous bills unpaid, in a discrimination of incorrect political intentions and detrimental to the interests of many small businesses in the Municipality», accused, even so, the socialists.
«The PS Faro reiterates the defense of an urgent revision of the Local Finance Law, with greater emphasis on population indices and which also takes into account the role of the District Capital. Works such as the Algarve Stadium and the Municipal Theater of Faro, which, according to the PSD/CDS-PP coalition, especially burden the debts of the Municipality of Faro, have a supra-municipal and regional dimension with costs that, in order to be supported, require a review and reinforcement of municipal revenues», concluded the PS/Faro.
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