The Santa Cruz de Tenerife Council: The Most Indebted in All of Tenerife by the End of 2024

The Santa Cruz de Tenerife City Council, currently governed by CC and PP since the latter half of the previous term, with the nationalist José Manuel Bermúdez as mayor, is the most indebted local authority in all of the Canary Islands at the close of the 2024 financial year, the last year for which annual data is available.

This is stated by the Ministry of Finance, which has just published data on public debt of local corporations throughout Spain. Santa Cruz de Tenerife not only has significant debt, but this has increased by over two digits from 2023 to 2024, specifically 13.4%, the strongest relative increase among the 40 municipalities in the country with the highest absolute debt last year.

By the end of 2024, the City Council owed a total of 96.2 million euros, 11.4 million more than the same figure recorded at the end of 2023, when the official threshold was 84.7 million euros.

This outstanding debt of the Santa Cruz de Tenerife City Council, when distributed among all its legal residents—211,436 people according to the census as of 1 January 2024—amounts to 454.5 euros per person.


The Santa Cruz de Tenerife Council: The Most Indebted in All of Tenerife by the End of 2024

In the Canary Islands, according to the same records from the Ministry of Finance, the second place in municipal debt is held by San Cristóbal de La Laguna (governed by PSOE-CC), ranking 115th nationally, with a debt of 24.8 million euros, up from 7.2 million in 2023, representing a staggering increase of 246.9%, more than double. The legal resident population of La Laguna stands at 160,258 people. Meanwhile, the municipality of Las Palmas de Gran Canaria has an outstanding debt of 62,000 euros at the close of 2024.

According to the analysis of this same variable on a national scale, the debt of the municipalities decreased overall by 1.7% in 2024, amounting to 17.834 billion euros compared to the 18.144 billion recorded in 2023, based on data for local entities detailed and published by the Ministry of Finance as of 31 December 2024.

Madrid and Barcelona, the most populated municipalities in Spain, topped the municipal debt ranking, with 1.943 billion euros (which represents a slight decrease of 0.8% in the first case) and 1.389 billion euros (with an increase of 4.2% in the second). These municipalities were followed by those in Andalusia: Jerez de la Frontera, with 966 million euros (a decrease of 0.1%) and Jaén, with 570 million euros, an increase of 4.2%.

The top 10 is completed by Zaragoza, with a debt of 567 million (a reduction of 5.7%); Parla, with 515 million (up by 1.6%); Sevilla, with 266 million (up by 11.4%); Murcia, with 259 million (a decrease of 3.6%); Gandía, with 257 million (a reduction of 0.9%), and Málaga, with 256 million (a worsening of 12.3%), all according to statistics from the central government.

Of the 8,132 municipalities in Spain, 5,383 closed 2024 without any debt, representing 66.2% of the total, according to the database from the Ministry of Finance.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *


Click Image to Join Community

Tenerife Forum Community

Previous News

News Highlights

Trending News