The 19 municipalities of the Autonomous Region of the Azores obtained revenues of 207 million Euros in 2008, which represents an increase of 11.3% comparing to the previous year.

The global growth of the revenue of the Azorean municipalities during the past year was mainly due to the transfers of support from the Regional Government and other entities, excluding the funds from the State Budget and the European Union, and to loans, which have grown 45 %.

Contrary to a trend of recent years, the municipalities of the Azores registered a decrease, though slight, in their local revenues from taxes, fees and sale of goods and services in 2008.

According to the proposal of the Region Budget for next year, the staff costs of the Azorean municipalities increased 2.4% in 2008 compared to the previous year, while municipal grew 23%, exceeding 84 million Euros, which is an absolute record.

The municipalities registered an increase of 18% in interest charges during last year, which reflects the increase in interest rates as well as the 25 million Euro loan taken out in 2008, the highest value of the last six years.