CFP, the Council for Public Finances, has revealed that at least 12 municipalities were in financial difficulties in 2023 – meaning their level of debt exceeded 1.5 times the average revenue of the three previous years. The worst offender was the Algarve’s Vila Real de Santo António, with a debt level set at 473%. The ‘good news’ is that some indebted municipalities have ‘left the worst offenders’ list, among them Lagoa, in the Azores, and Portimão, again in the Algarve.
At least 12 municipalities in financial crisis, says Council for Public Finances
CFP leader Nazaré Costa Cabral. Image: Tiago Petinga/ Lusa
