Adeje is Financially Stable

Adeje's Mayor, Jose Miguel Rodriguez Fraga and the Finance Councillor, Epifanio Díaz Hernández

Adeje’s Mayor, Jose Miguel Rodriguez Fraga and the Finance Councillor, Epifanio Díaz Hernández

The Adeje council have just announced that the borough has officially entered a period of financial stability, and tomorrow will vote to repay almost half of a credit loan. The council will pay back €3 million of a €6 million loan, cancelling out a large part of the borough’s debt.
According to the mayor Jose Miguel Rodriguez Fraga the cutbacks made throughout all the departments have seen the council bring the borough back to stability a year ahead of plan, and he says that they can now start to look at improving a number of local services. “Measures taken were effective, from better control of spending in all areas, the suspension, for instance, of Sunday rubbish collection, use of more efficient energy methods, reducing in leasing arrangements, the elimination of health insurance for administrative workers etc. The cuts were worth the effort and have allowed us achieve our economic objectives and guarantee fundamental services as well as now improving others.  These might not fall into the category of ‘essential’ but  we see them as very important because they are the backbone of our co-existence within the borough, services related to sport, culture or training” the mayor commented.
While the mayor mentioned his satisfaction at the good economic showing of all the council’s departments he said he was particularly pleased with the behaviour of Adeje’s residents, with a very high local tax payment rate.
According to the borough’s finance councillor, Epifanio Díaz Hernández, the early payment of half of the loan will save the council over €807,000 in interest payments.