Fulfilling its objective of budgetary stability, the Council of Formentera closes 2012 with surplus

The Formentera Island Council closed its books on the year 2012 with a surplus of 1.4 million euros, achieving its objective of budgetary stability.

The books of the Island Council have been cleared and reflect the stability attained for principal items of expenditure, a situation obtained as the result of restraint efforts applied to current expenditures. Applied in recent years, it is this strategy that has produced the current adjustment of accounts. Non-financial operations have resulted in an additional 1.4 million euros, obtaining surplus from subtracting current expenditures from current income.

The councillor of the Presidency, Tax Office and Territory of the Formentera Council, Bartomeu Escandell, referred to these figures as “very good news demonstrating the efforts made to balance the Formentera Council's accounts”. Chief councilor to the Council on matters of the economy, Escandell added that “these data confirm our institution's economic and financial viability. Our current objective for the coming years is to establish this positive trend as Council budgetary strategy”.

In addition to the important efforts at cost-constraint made in recent years by the Formentera Island Council, it is important to note the effect produced by the constant threat of systemic default on payments by the Balearic Government in its debts. The Autonomous Community's debt with Formentera has steadily increased over the past four years, at 8,530,648.51€ in 2010; 15,950,715.39€ in 2011; and 17,081,837.72€ in 2012.

Such circumstances imply serious economic difficulties for the Council and “we are doing what we can to make do, with rigour and austerity in our economic management of the situation. The situation imposed by the Govern of the Balearic Islands is, needless to say, unsustainable. We are a small institution and the effect is too severe,” added the councilor of the Economy.

The Island Council will continue to work to avoid deficits that are insurmountable for the local population of the island, and will persist in its provision of the services that were so ferociously fought for here. As Bartomeu Escandell stated, “We will not give in before the government of the Partido Popular in its attempt to economically suffocate Formentera”.