Balearics left 150 mln in debt

PALMA
ALLEGED corruption and “bad” management on the part of the previous Balearic government under the presidency of Partido Popular leader Jaume Matas, has left the Balearics 150 million euros in debt, Balearic Minister for the Economy Carles Manera claimed yesterday.

This huge sum has left the present Socialist coalition “working on a shoe string” in terms of setting next year's budget and has worsened the economical situation of the region. It has meant that huge debts are being assumed in order to meet the need for public expenditure.

The vast majority of infrastructure projects carried out by the previous government were completed at a cost much higher than the original budget, and in some instances - as is the case of the Palma Arena - by 67.9 percent.