According to the latest Yearbook of Portuguese Municipalities, no doubt a riveting read, Albufeira council is in the 'top 3' of medium-sized municipalities (between 20,000 and 100,000 inhabitants) for displaying the best 'financial efficiency.' In fact, the seaside municipality is number three in the country in this category, but behind Lagoa council which topped the list with a rating that exceeded those in all size categories.
The ranking is based on an analysis of a range of financial indicators related to the levels of revenue, expenses, debt, liquidity and operating results, among several others.The yearbook results are checked over by the Order of Certified Accountants and the 2015 edition shows Portuguese municipalities' debts decreased by €450 million in 2015 to €5.784 billion.
Thanks to some successful financial housekeeping, Albufeira council has approved the reduction of several local tax categories and Lagoa has been able to free up spending - for example its current remodelling on the the market square area..
Overall debt held by Portugal’s councils stood at €6.892 billion, which is €490 million down on 2014.
Total municipal revenue increased by €303.8 million in 2015 to €7.243 billion, with €3.088 billion received as long-term loans from the government (i.e. the taxpayer) to reorganise expensive short-term debts.
Albufeira's mayor, Carlos Silva and Sousa, commented on the lowering of local taxes, "Now that we have found a financial balance, it makes no sense to continue to demand sacrifices from our citizens. It is time for families to have financial strength, it is time for businesses to feel that the council is doing its best to help with economic recovery, creating favorable conditions for the attraction of private investment in the municipality."
As a rough guide, the Albufeira municipal area accounts for around 40% of the Algarve region's tourism income.
In the national list for medium-sized municipalities, after Lagoa's first place with 1,803 points out of a possible 2,000, came Albufeira (3rd place, with 1,378 points) and Loulé (11th, 1,199 points). In the category for small size municipalities, the best in the Algarve is São Brás de Alportel (11th place with 1,239 points).
Taking these results only for the Algarve, the ranking was 1st - Lagoa; 2nd - Albufeira; 3rd - São Brás de Alportel and 4th - Loulé, with rural Aljezur 5th with 1,031 points.
