“Our mission is to guarantee effective compliance of the financial sustainability principle by the General Goverment”
Access to Supplementary report on the main budgetary lines for 2015 of the Autonomous Regions Related documents: Press Release Report by Autonomous Regions: Andalusia Aragon Asturias Canary Islands Cantabria Castilla-La Mancha Castilla y León Catalonia Extremadura Galicia Balearic Islands La Rioja Madrid Navarra Basque Country Murcia Valencia
Deviation from the budget balance target (set to -1% of GDP) in Extremadura, Cataluña, Valencia y Murcia could exceed 1% of GDP whereas in Castilla-La Mancha, Andalucia and the Balearic Islands deviations could go up to 0.3% of GDP. There is practical certainty of deviation in the Autonomous Regions of Extremadura, Catalonia, Valencia and Murcia and … Read more
Deviation from the budget balance target (set to -1% of GDP) in Extremadura, Cataluña, Valencia y Murcia could exceed 1% of GDP whereas in Castilla-La Mancha, Andalucia and the Balearic Islands deviations could go up to 0.3% of GDP. There is practical certainty of deviation in the Autonomous Regions of Extremadura, Catalonia, Valencia and Murcia and … Read more
Caption: The president of AIReF, José Luis Escrivá, (fourth from the left), with the speakers who participated in the Seminar AIReF holds a seminar to analyse the international work of Independent Fiscal Institutions. It is absolutely clear to Independent Fiscal Institutions (IFIs) that the only way to have and maintain the credibility and leadership … Read more
The 2015 revalorisation pension index stands below 0.25%, therefore the minimum increase is applicable. According to the provisions included in its Organic Law, AIReF has assessed the compliance of the 2015 State Draft Budget and Main budgetary lines of the Regional Governments to the budget stability, debt and expenditure rule objectives. AIRef considers that “the … Read more
This note develops an overarching debt sustainability analysis (DSA) framework, encompassing three of its main dimensions: (i) a traditional (deterministic) sustainability exercise, based on a simple accounting application involving the debt accumulation equation; (ii) an assessment of the realism of the assumptions underlying the deterministic debt projections; and (iii) a stochastic exercise aimed at understanding … Read more
The 2015 stability target (i.e. 4.2 per cent) appears as very challenging and requires a strict implementation of the presented Budget. In agreement with the requirements stated in its Organic Law, AIreF has assessed the adequacy to the 2015 stability and debt targets and expenditure rule embedded in the State Draft Budget and the main … Read more
Access to Report on macroeconomic forecasts. Draft State Budget for 2015
Compliance with Deficit and Debt Targets Executive Summary 1 There are risks of non-compliance with the public debt threshold established for 2020. 2 The assessment of the General Government’s (GG) compliance with the appropriate debt targets must be performed at all levels comparing the initially set target and the actual data observed, both falling under … Read more
Working Paper No. 1/2014: Understand the financial sustainability Access to Working Paper Annex
