Tenerife municipalities owe over 334 million euros

The thirty one municipalities of the island of Tenerife owe €334.107.000 euros to banks and credit organizations. these are the figures released in an annual document for 2009 about the debt of local administrations. The documents state that the 899.833 people that live in Tenerife ‘owe’ through their local administration an average of €371.29 each, a figure slightly lower than that of Las Palmas de Gran Canaria that has a population of 833.397 people that ‘owe’ €373.21 through their administration. By municipality, the Santa Cruz de Tenerife ayuntamiento (town hall) owes €97.400.000 followed by La Laguna with a €60.900.000 debt, Adeje has a debt of €24.200.000 and Puerto de La Cruz has €20.000.000 of debt.