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The figures referring to budgetary stability, spending rule and public debt corroborate that the institution "is economically and financially sound," says Martínez-Oliva.

In addition, it reduces to 13,20 days the payment time to its suppliers.

The City of Murcia makes a good note of compliance with the three fiscal rules: budgetary stability, spending rule and public debt, which means that the institution "is economically and financially sound, as a consequence of a rigorous, austere and exercised management with the Maximum control of expenses, "said Councilor for Finance and Contracting, Eduardo Martínez-Oliva, after the Committee of Plenary held this morning in which the report of intervention in this regard, related to the fourth quarter of 2016, has been reported.

Regarding budgetary stability, the difference between non-financial income and expenses, € 373 million and € 336 million, respectively, provides a consolidated financing capacity for the City Council.

However, the final amount will have to await the settlement of the 2016 Budget, which will be approved shortly.

In relation to the expenditure rule, the intervention report estimates that it will be complied with at the end of the current year, while long-term indebtedness is at the end of the last quarter of 2016 at 43% of current income, far from 75%, which is the limit for the City Council to enter into new long-term credit operations without authorization.

On the other hand, the City continues to improve the time it takes to pay the bills.

The suppliers of the City of Murcia charge for their services or products an average of 13.20 days after having invoiced them, as is clear from the last report issued, corresponding to February.

"We are more solvent and we have improved liquidity, which is why there is no reason to delay payment of invoices," said Martínez-Oliva.

Budget Schedule

In addition to the fiscal rules, the Infrastructure, Finance and General Affairs Committee has reported on the 2018-2020 medium-term budget plan, which serves as a framework for drawing up the annual budgets and ensuring a coherent budgetary programming with the Objectives of budgetary stability, spending rule and public debt.

The plan essentially reflects the projections of the main items of income and expenditure, taking into account both its trend evolution and the impact of the measures envisaged, including the main assumptions on which these projections are based.

On this basis, in 2018 the City Council expects to obtain an income of 418 M € in 2018;

Of € 422 million in 2019 and € 417 million in 2020, always higher than the forecast of expenses.

The growth in current expenditure for these years stands at 1.7%, 0.74% and 0.48%, thus not exceeding the limits established by the Government for this period.

Source: Ayuntamiento de Murcia