The Chamber of Olhão has already freed itself from the obligations arising from its adhesion to the Local Economy Support Program (PAEL), after anticipating the payment of the loan it requested from the State in 2013.
The municipality of Olhano announced that it was informed, by joint order of the secretaries of State for Local Authorities and the Treasury, of the "suspension of the application of the Financial Adjustment Plans and its obligations", following the repayment of the loan of approximately 4 million euros that it contracted with the Portuguese State, which served to pay the municipality's overdue debts.
Upon accessing this support line, and until it finished paying, the municipality was obliged to maintain municipal fees at maximum levels, among other impositions.
The joint order of the two members of the Government, signed on 25 July, frees Olhão from these obligations.
"The efforts we made throughout this term, as well as the rigor we applied in managing the accounts, allowed us to control and improve the financial situation of the Municipality, which was decisive for this decision now taken", considered the Mayor of Olhão António Pina.
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