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    AIReF English

    “Our mission is to guarantee effective compliance of the financial sustainability principle by the General Goverment”

    Cristina Herrero alerts of the high level of debt in a context of rising interest rates, inflation and lower growth

    The President of the Independent Authority for Fiscal Responsibility points to the need to design a medium-term strategy in order to make sustainability a lever for recovery She highlights the role of Independent Fiscal Institutions (IFIs), such as AIReF, as a key element in safeguarding sustainability, which is in the spotlight despite the suspension of ... Read more

    AIReF endorses the government’s macroeconomic scenario, but warns of downside risks due to the economic context

    Aval previsiones macro 2022
    The Independent Authority for Fiscal Responsibility considers the scenario put forward by the Government, which forecasts a 4.3% rise in GDP in 2022, to be feasible This scenario is in line with AIReF’s latest forecasts and is prudent with respect to the most recent forecasts by the consensus and some national and international institutions AIReF ... Read more

    OP-ED piece by Cristina Herrero in ‘El País’: “Independent Fiscal Institutions are a key element in the European fiscal coordination”

    The president of the Independent Authority for Fiscal Responsibility (AIReF), Cristina Herrero, has written an editorial in the newspaper El País in which she discusses the future reform of the European fiscal framework and the role of Independent Fiscal Institutions (IFIs), key pieces of European fiscal coordination. After reviewing the creation of the Stability and ... Read more

    Cristina Herrero: “Member states will have to optimise EU resources to confront international shocks

    Cristina Herrero Líderes en Directo, Consejo General de Economistas
    Subheading: AIReF's President believes a fiscal framework will need to be designed to meet new investment needs without jeopardising the sustainability of public finances The President of the Independent Authority for Fiscal Responsibility (AIReF) stated today that, given the succession of external shocks that dominate the international scene, the EU and its Member States face ... Read more

    AIReF publishes its first interactive observatory of Autonomous Regions with fiscal and macroeconomic data and forecasts

    The Monitor Tool provides information on the performance of each AR in relation to fiscal rules, including details of revenue and expenditure, macroeconomic variables such as GDP and employment, and AIReF's forecasts It allows for in-depth analysis of a single AR, as well as comparisons between several ARs or the entire sub-sector for all variables ... Read more

    AIReF updates the Debt Monitor after year-end 2021 and estimates that the ratio will fall to 113.8% in 2023

    AIReF points out the risks for sustainability, which include a scenario of stagflation in the European Union, an upturn in interest rates, the increase in contingent liabilities through the Guarantee Lines and the expected increase in healthcare spending and pension spending as a result of the ageing population In the Debt Monitor, AIReF sets out ... Read more

    AIReF publishes its 2021 Annual Report

    In 2021, the institution published the reports linked to the budget cycle, participated in the debate on the future of fiscal rules, created the Public Spending Evaluation Division and a new Advisory Board, among other actions The Independent Authority for Fiscal Responsibility (AIReF) today published on its website the Annual Report for 2021, a document ... Read more

    AIReF advocates evaluating public policies of economic significance and impact that benefit the entire General Government (GG)

    The President of AIReF, Cristina Herrero, highlights the importance of evaluation for improving the quality of public finances, transparency and democratic quality The evaluation function is a medium-term commitment of the institution that has been made possible thanks to the European impetus and which has been implemented through the creation of AIReF’s new Evaluation Division, ... Read more