Camp de Morvedre district bank debt falls to its lowest level in history
Only Sagunto and Gilet still carry bank debt among the 16 municipalities of the Camp de Morvedre district, according to the Spanish government's official Deuda Viva municipal debt report for 2025.
The Deuda Viva de las Entidades Locales report (Live Debt of Local Authorities), compiled by Spain's Secretaría de Estado de Hacienda (State Treasury Office) with data as of 31 December 2025, shows that only two of the district's sixteen town councils still carry bank debt: Sagunto, with €18,665,000, and Gilet, with €275,000. The rest of the district now has no bank debt at all — the lowest level on record since comparable data began. Municipal sources in Gilet expect to clear that debt entirely during 2026, backed by a 2025 budget surplus of over half a million euros and a treasury reserve of €1.69 million. Two more town councils shed their debt during 2025: Canet d'en Berenguer, which had reduced its debt from €39,000 in 2022 to €33,491 in 2024 before reaching zero, and Algímia d'Alfara, which cleared roughly €383,000 in debt; back in 2014 the latter's debt per resident stood at €137.10. Spanish town councils have been bound since 2012 by the Ley Orgánica de Estabilidad Presupuestaria y Sostenibilidad Financiera (Budget Stability Law), which sets numerical limits on deficit and spending. According to El Periódico de Aquí, with additional background from Wikipedia.