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The PSOE has reduced its bank debt by 30 million in 4 years, going from 45.4 million in 2019 to 16 at the end of 2022

It has already repaid the 4.

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The PSOE has reduced its bank debt by 30 million in 4 years, going from 45.4 million in 2019 to 16 at the end of 2022

It has already repaid the 4.5 million in microcredits for the Madrid and Andalusia campaigns and has one million green microcredits pending

MADRID, 26 Mar. (EUROPA PRESS) -

The PSOE reduced the debt it has with the banks by 3.5 million euros throughout the past year, leaving it at 16 million. With the amortization of the past financial year, there are already almost 30 million euros that the Socialists have returned to the banks in four years. In addition, it has already managed to repay the microcredits that it had requested from militants and supporters to face the regional elections in Madrid and Andalusia, with what remains for them to pay almost a million in green microcredits.

This is stated in the document 'Budgetary Bases Project for the year 2023', to which Eropa Press has had access, which was presented last Saturday before the Federal Committee of the PSOE in which the electoral lists for the municipal and regional elections were approved next May 28. In this meeting, the socialist leadership also approved the allocation of 13 million euros to these elections.

According to this document, the PSOE has continued to clean up its accounts to avoid depending as much as possible on bank financing. To do this, it has amortized 3.5 million euros, going from owing 19.5 million to financial institutions to having a debt of 16 million, that is, 18 percent less.

In this way, the PSOE has placed its debt at the lowest levels in its history, as stated in the aforementioned text and thus fulfills the objective of avoiding incurring new debt operations.

Of this amount, 31.5 percent is for party operating expenses, although it has been reduced by almost 8.5 points in 2022, most of it, from the PSOE Federal. This is the debt that has higher costs.

The rest, 60.06 percent of the total bank debt, is mortgage debt. However, the latter is a structural debt that, as a consequence of its long term, allows orderly planning for its amortization.

The PSOE's debt reduction program has allowed the transfer of the 45.4 million euros that the party owed banks in 2019 to the current 16 in the last four years. An amortization of 29.4 million euros to date. The largest repayment of the debt occurred in the 2020 financial year, when the debt was lowered to 27.2 million and in 2021 it fell to 19.5 million.

The PSOE has also repaid most of the microcredits contracted with individuals to finance electoral processes. At the end of 2021, these totaled 4.1 million, while at the end of last year they have been reduced to one million euros, which, in addition, correspond entirely to "green microcredits".

In this way, the microcredits obtained for the regional elections in Madrid and Andalusia have already been repaid in full: 2.1 million corresponded to the money destined for the campaign of the community of Madrid and 2.4, the campaign of Andalusian women.

"It should be noted that our Party has complied within the agreed term with all of its return commitments by paying the agreed inveteres," says the document to which Europa Press has had access.

In this way, the PSOE only has 968,172 euros pending amortization corresponding to green microcredits constituted in 2020 for a total of 2.9 million. It was the first time that the Socialists opened a financing line outside the electoral period and they did so in order to finance their 'Green Light Plan' seeking a "sustainable and digital" party.

To contribute to this plan, between 500 and 10,000 euros could be lent to the party with a return of 3 percent for three years. The objective was to allocate these funds to reduce the carbon footprint in socialist venues between 60 and 90 percent in 2023, improving digitization and increasing the sustainability of party events.

Keywords:
PSOE