Budget will increase by €13 million compared to 2023
Lagoa has approved a €61 million budget for 2024, its “largest ever.”
After having already had a record budget of €48 million for 2023, the Municipal Assembly of Lagoa approved a €13 million increase for the 2024 budget with 15 favourable votes from the ruling Socialist Party (PS), nine abstained votes (one from PS, CDU, BE and Movimento Lagoa Primeiro each, and three from PSD) and one vote against the budget from CHEGA.
“Having the largest budget that the municipality of Lagoa has ever had is a huge challenge which we are ready for,” says Lagoa Mayor Luís Encarnação, adding that the strategy will be to “continue prioritising the people of Lagoa.”
The budget will have two main goals: to renovate the existing water supply pipes in the municipality and to tackle the housing crisis, which is affecting the entire country.
Says the local council, providing “dignified housing for everyone, especially younger citizens,” is an objective it will continue working towards, as well as saving as much water as possible.
It adds that the budget will allow the municipality to maintain “balanced and sustainable finances” in the medium and long-term whilst ensuring that Lagoa “continues to be a better place to live, work, study or visit, attracting people from all over the world and becoming more and more a municipality of opportunities for future generations to achieve their dreams and life projects.”
“Lagoa will continue to show that it is an attractive borough for investors and visitors seeking the best of the Algarve and the country,” the council concludes.
michael.bruxo@portugalresident.com
