Algarve câmaras’ total debt at the end of 2011 amounted to €651 million, with three municipalities alone responsible for half of that figure.Topping the list was Portimão with a debt of €163.2 million, followed by Loulé (€95.1 million) and Vila Real de Santo António (€75.9 million), according to Correio da Manhã newspaper.Alcoutim reported the healthiest finances, with the municipality ending the year of 2011 with no debts and a positive balance of more than €1 million.As the Algarve Resident reported last week, Fernando Ruas, President of the National Association of Portuguese Municipalities (ANMP), said he was particularly concerned about the short term debt of municipal câmaras in Portugal, which he said amounted to €1.5 billion euros. In the Algarve, municipal short term debt represented 57% of the total debt at the end of 2011.
On Tuesday, Dra Cecília Meireles, Secretary of State for Tourism, visited the Algarve and was the speaker at a lunch organised by the British-Portuguese Chamber of Commerce.The theme of Dra Cecília’s talk was Algarve: More than just Sun and Sea.
Four youths have been identified by the Polícia Judiciária (PJ) suspected of being involved in the death of British tourist Ian Haggath, who was attacked in Albufeira on May 15, 2011. The 50 year old from Gateshead, England, had been holidaying with a friend and staying at the Hotel Janelas do Mar, located in Montechoro, when he was attacked while walking back to the hotel following a night out, at around 4.15am.
Air traffic controllers initiated strikes at airports throughout Portugal on May 11, which are scheduled to continue on various days this month, including today (May 18).The protest was triggered by Navegação Aérea de Portugal (NAV) employees against the government.
A total of 75 beaches along the Algarvean coast have been labelled as having dangerous rock formations, following the completion of a winter safety survey. In order to ensure the safety of beach goers throughout the upcoming months, the management of the Regional Hydrographic Board of the Algarve (ARH) began demolition works on seven selected beaches on May 9 starting at Santa Eulália in Albufeira.
Bad debt in Portugal currently represents more than €6 billion, an increase of 13% on the previous year according to a report by credit management services company Intrum Justitia. The figure represents 3.6% of the total volume of business of Portuguese companies between January and March 2012. In Europe, uncollectable debt has reached 2.8% of the total volume of business, standing at €340 billion.
_310x50_px-[63887].jpg)
top
the algarve web designers