Approval of Budget Adjustment to Settle Majority of Inherited Debt in Estepona
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The upcoming plenary session in March will see the Estepona City Council approve a budget adjustment for 2025, allocating 20 million euros to pay off a significant portion of the debt left by previous administrations. This move aims to nearly clear the 24 million euro debt by the end of this year, paving the way for a substantial tax reduction plan in the following year. The Council’s financial performance in 2024 was exceptional, boasting a surplus of 45.63 million euros and a financing capacity of 24.04 million euros. By focusing on productive investments and prioritizing debt repayment, the government aims to stimulate economic growth for all residents of Estepona. With plans to eliminate 20 million euros of debt this year, the Council is on track to implement a tax reduction strategy in 2026. The positive economic trend in Estepona over the past decade underscores the Council’s commitment to sound financial management.

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Stacey Watson

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