For the first time, the annual accounts for the Nerja Caves Foundation show a negative balance, due in the main to the construction and operation of the Nerja Museum which was finally inaugurated in December 2011.
The negative balance means that the Foundation will not be in a position to provide, as it traditionally has in the past, the various grants and subsidies to local groups and associations.
Ángel Ruiz, who took over as manager of the Nerja Caves Foundation on March 1st 2012, states that he has already started taking steps to reduce spending and increase revenues in order to reverse the negative trend in the financial accounts of the Caves.