Madrid.—The Balearics needs to return 178.3 million euros of borrowings to the State, the Tax ministry confirmed yesterday, adding that the repayment could be made in stages. Having borrowed 2'047 million euros in 2009 from Central Government, the Balearics has so far only been able to repay 1'869 million, but the outstanding balance is one of the lowest of any of the regions in the country.

Secretary of State for Taxation, Juan Manual Lopez Carbajo said that if it had not been for new financing arrangements introduced by the present Central Government, there would have been 9'197 million euros less for the regions in 2009 and 2'400 million less in 2012.


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