Gata wipes 'mas­sive' debt: Back in the black by 2019

Costa Blanca News (North Edition) - - NEWS -

GATA de Gor­gos' 'his­toric' debt will be down to zero by the end of 2018 and next year will see the pub­lic cof­fers in credit for the first time since be­fore the last lo­cal elec­tions. Left-wing re­gional party Com­pro­mís, led by Magda Men­gual, is cur­rently gov­ern­ing in a mi­nor­ity af­ter break­ing off the coali­tion with the so­cial­ists and then with in­de­pen­dents JuGa, all of whom have helped each other to slash Gata's over­draft. When the right-wing PP was in power in the town, it was in the red by €3 mil­lion – and with just 5,825 in­hab­i­tants, this meant ev­ery res­i­dent 'owed' over €515. The debt is now down to just un­der three-quar­ters of a mil­lion and is ex­pected to be cleared com­pletely by the end of the year.

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