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Did you know...?
... Telefonica are NOT the only service provider of Telephone Lines, Internet Access or Mobile Phones?
Tumbit recommends Telitec Communications. Find out how Telitec Communications can help you here!
- Airports and Airlines Spain
- Paramount Theme Park Murcia Spain
- Corvera International Airport Murcia Spain
- USD weekly currency update-29 April 2016
- When Expat Eyes Are Smiling
- Meet Wincham at The Homes, Gardens & Lifestyle Show, Calpe
- QROPS 2014
- Spain Increases IHT in Valencia & Murcia
- Removals to Spain v Exports from Spain
- The Charm of Seville
- Gibraltar Relations
- Retiro Park : Madrid
- Wincham announce opening of Marbella office
- Community Insurance in Spain
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- Considerations when Insuring your Boat in Spain
- QROPS – HMRC Introduces changes that create havoc in the market place
- QROPS – All Change From April 2012
Financial worries for many Spanish Ayuntamientos
Escalating debts and falling income due in part to the recession, promises to make 2010 and 2011 diffucult for Spanish Municipal Council,with many having to cut investment in order to balance their debts.
A recent report by the Bank of Spain estimates that there is around 29.25 billion euros owed to local businesses by Town Councils,with 14.85 billion of it relating to the provincial capitals.
Some Ayuntamientos are performing worse than others - Madrid in particular has seen local businesses threatening to stop paying their staff if the city hall does not pay their outstanding bills, which have remained unpaid for almost 1 year.
In Zaragoza the Town Hall has spent what would normally be 25 years budget over the last 5 years alone, however Town Hall officials believe that recent investments place them in a strong position for when Spain finally exits the recession and the economy improves.
Santander's Municpal council has recently reduced debt by 14%, but it is still 75% above the permitted level according to new government guidelines.
Latest News & Stories
- Population of Spain in decline
- Brit charged in Alicante pro-cyclist crash
- Spain Welcomed 12 Million Tourists in Q1
- Spain sees GDP growth of 2.5 pct in 2018, 2019
- Prosecutor will use Manos Limpias arrest to get royal out of fraud trial
- EU intervention sought over UK-Spain Gibraltar airport row
- Spain breaks its own record for joblessness of over 20%
- Bank of Spain sees private consumption growth steady at start of year
- “Human fecal contamination” at origin of bottled water health scare
- Catholic nuns undergo virginity test to prove priest's innocence in sex abuse case