Ílhavo City Council debt reduced by almost 60% in three years

The Ílhavo City Council reduced its debt by almost 60% in three years, going from 9.2 million euros in 2021 to 3.9 million in 2024, the Aveiro district council revealed today.

“The Municipality's financial responsibility is demonstrated by the significant reduction in debt, which includes debts to suppliers and bank loans, which went from 9.2 million euros in 2021 to 3.9 million euros in 2024, that is, by almost 60%”, highlights a press release from the Chamber.

According to the report and accounts approved by the Municipal Assembly at its last ordinary meeting, cited in the press release, between 2022 and 2024, current expenses were 72 million euros and capital expenses were 29 million euros.

For the same period, there was tax relief with the continuous reduction of the Municipal Property Tax (IMI) to the legal minimum and the return of part of the Personal Income Tax (IRS).

In this way, the Municipality failed to collect around two million euros in IMI and 1.5 million euros in IRS, adds the local authority.

The Ílhavo City Council reduced its debt by almost 60% in three years, going from 9.2 million euros in 2021 to 3.9 million in 2024, the Aveiro district council revealed today.

“The Municipality's financial responsibility is demonstrated by the significant reduction in debt, which includes debts to suppliers and bank loans, which went from 9.2 million euros in 2021 to 3.9 million euros in 2024, that is, by almost 60%”, highlights a press release from the Chamber.

According to the report and accounts approved by the Municipal Assembly at its last ordinary meeting, cited in the press release, between 2022 and 2024, current expenses were 72 million euros and capital expenses were 29 million euros.

For the same period, there was tax relief with the continuous reduction of the Municipal Property Tax (IMI) to the legal minimum and the return of part of the Personal Income Tax (IRS).

In this way, the Municipality failed to collect around two million euros in IMI and 1.5 million euros in IRS, adds the local authority.

The Ílhavo City Council reduced its debt by almost 60% in three years, going from 9.2 million euros in 2021 to 3.9 million in 2024, the Aveiro district council revealed today.

“The Municipality's financial responsibility is demonstrated by the significant reduction in debt, which includes debts to suppliers and bank loans, which went from 9.2 million euros in 2021 to 3.9 million euros in 2024, that is, by almost 60%”, highlights a press release from the Chamber.

According to the report and accounts approved by the Municipal Assembly at its last ordinary meeting, cited in the press release, between 2022 and 2024, current expenses were 72 million euros and capital expenses were 29 million euros.

For the same period, there was tax relief with the continuous reduction of the Municipal Property Tax (IMI) to the legal minimum and the return of part of the Personal Income Tax (IRS).

In this way, the Municipality failed to collect around two million euros in IMI and 1.5 million euros in IRS, adds the local authority.