LA NUCIA finished the last fiscal year in profit for the fifth year running, when economic figures were announced for the town last week.
Outgoing figures for 2016 were just over 3.5 million euros, with a final year profit of just under 360,000 euros.
The town were also able to comply with Central Government Compliance spending rules. The growth rate of non financial expenditure over the previous year stood at 1.71% , below the 1.8% limit set by Madrid.
They were also well below the average payment period to suppliers compliance established by Central Government at 30 days. At the end of 2016, La Nucia’s average payment period stood at 5.79 days.
The Mayor of the town, Bernabe Cano, was happy with the result which confirms the town meets the budget stability objectives set by Central Government’s Finance Ministry for expenditure, debt and financial capacity.
In a statement last week, he praised the “Good economic management by the current government, trying to adjust to the maximum costs set by central government 2016 at 3.5 million euros. The City of La Nucía is meeting all the objectives of the Budgetary Stability Law and we are expecting 2017 to continue the positive trend of improving municipal economic indicators from 2016.”