The local Andalucian municipalities are in debt to the tune of €4,569 million as of December 2009 according to the Ministry of Economics and Finance.
The outstanding debt takes into account credit transactions involving financial risk, securities and loans or credit transferred to third parties but does not include the commercial debt of local authorities, only debts to banks.
More than a quarter of the €28,770 million in national municipal debts corresponds to Madrid with €8,128 million, followed by Andalucia and Cataluña with over €4,520 million each.
In Andalucia by province, Málaga is top with €1,157 million, followed by Cádiz (€963 million) and Córdoba. Those with the least debt are Huelva, Jaén, Granada and Almeria.