The fund still needs to be agreed by all EU leaders.
The health ministry will receive the largest amount in the budget - 1,472 million euros.
Andratx becomes the seventh Majorcan municipality to be declared debt-free. Alcudia, Ariany, Campos, Deya, Sant Llorenç and Selva are the others.
The tourist tax alone, were it destined for debt payment, would have to be collected for eight years in order just to pay off current interest.
Armengol and the regional finance minister, Catalina Cladera, assured the leader of the El Pi party, Jaume Font, that the government plans to spend in a better way.
The current government is faced with a total debt that is almost 3,000 million euros higher than four years ago.