Business
Municipalities Invested Only 8% of Their Surplus Last Year
Delays in Treasury authorization and fiscal restrictions hindered local investment, with most funds allocated to housing.
According to a report by El País, municipalities across the country invested barely 8% of their significant surplus last year. This situation has been attributed to delays in authorization from the Treasury.
Additionally, it is noted that the strict fiscal constraints faced by local governments further complicated the execution of projects. Most of the funds that were utilized were directed towards housing-related initiatives.