Court warns that Autonomous Community in the south of Spain has spiralled into €4,772 million of debt

A REPORT has warned public sector companies in Andalucia are losing hundreds of millions of Euros a year.
According to the Court of Auditors, 44 companies backed by the Junta de Andalucia had lost €349 million at their last audit, prompting a warning about the, “negative results,” of the Andalucian public sector.
A supervisor at the Court of Auditors warned, “the financing of the public sector continues, to a large extent, to be from subsidies from the Autonomous Community, and to a lesser extent from income and other administrations such as the central government or Europe.
The public sector overspend in Andalucia brings the region’s total debt to €4,772 million.