Claims that Torrevieja 2024 Budget is Not What it Seems

Following the fanfares that Torrevieja is to have a huge budget boost in 2024, the Sueña Torrevieja municipal group has warned that the investments of the budget are totally up in the air.

Pablo Samper, spokesperson for Sueña Torrevieja, assures that “the formalisation of the loans of €19.5 million will need to be authorised by the Financial Guardianship Body of the Valencian Community as the 2022 budget has been liquidated with budgetary instability”.

Samper therefore claims that “the budget for 2024 is not the highest in the history of Torrevieja but the lowest in the last four years, in addition to the fact that it is the worst financed and the one that if no one remedies it, will cause the highest deficit and therefore the highest economic and financial plan for breach of budgetary stability in the history of Torrevieja”.

Samper assures that “the net savings amount to €3.6 million, so a reduction in the budgetary result for current operations in the settlement of the 2023 budget greater than this amount would prevent new credit operations from being arranged, leaving investments amounting to almost 20 million euro without financing, including all the works awarded in 2023 through processing the budgetary result of the advance of the settlement as of September 30, 2023, presents a DEFICIT of €14 million, €8 million higher than  the result of the  settlement of the year 2022”.

In this sense, article 53.1 of the TRLRHL establishes that “new long-term credit operations may not be entered into when negative net savings are deduced from the financial statements reflected in the settlement of the budgets”.

Samper concludes by stating that “taking into account that they will have to wait for the approval of the 2023 settlement to request authorisation to formalise new loans and that if they settle with negative net savings, no loan could be formalised, they should suspend the processing of the budget in order to dedicate the possible surplus of the liquidation through the use of the RTGG to finance the most urgent investments”.