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    AIReF English

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

    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

    Cristina Herrero analyses the economic and budgetary challenges of the recovery

    AIReF’s President stated that the recovery is subject to two major uncertainties: the new fiscal framework after the deactivation of the escape clause, possibly in 2023, and the impact of the Funds from the Recovery, Transformation and Resilience Plan (RTRP)  Cristina Herrero explained that the economy is recovering at a slower pace than previously estimated ... Read more

    Cristina Herrero appeared before the Budget Committee of the Senate

    The Institution revises its deficit forecast for 2021 to stand at 7.3% of GDP and maintains the 2022 forecast at 5% of GDP This revision follows the incorporation of new macroeconomic and budgetary information since publication of the last Report on October 25th Cristina Herrero described 2022 as a decisive year, marked by a high ... Read more

    AIReF estimates a public deficit of 4,8% in 2022, despite a reduction of GDP growth of 6,3%

    After receiving relevant statistical and economic information, AIReF revises its GDP growth forecasts for 2021 and 2022 downwards, to 5.5% and 6.3%, respectively, compared with the 6.5% and 7% projected by the Government The Government's macroeconomic scenario underpinning the budget remains achievable as it falls within the confidence bands resulting from the probabilistic analysis, although ... Read more

    Cristina Herrero states that the tax system is a key tool for the sustainability of public finances

    The President of the Independent Authority for Fiscal Responsibility (AIReF) states that ensuring the sustainability of public finances requires an analysis of both the revenue and expenditure sides Cristina Herrero stressed AIReF’s role as an independent evaluation body that can contribute by providing objective data for decision making The President of the Independent Authority for … Read more

    Cristina Herrero states the economic recovery needs to design the return to fiscal stability

    She argues that the scale of the fiscal challenge makes it necessary to begin a process of fiscal consolidation once the economic recovery gains traction and takes hold Cristina Herrero stresses the importance of a comprehensive strategy that will also address the quality of public finances and the necessary structural reforms She offers the potential ... Read more

    Cristina Herrero analyses the risks and opportunities of economic growth

    On Friday, October 1st, the President of the Independent Authority for Fiscal Responsibility (AIReF), Cristina Herrero, participated in the International Conference of Councils on Economic Policy, organised by the German Council of Economic Experts (Sachverständigenrat Wirtschaft) and the French Council of Economic Analysis (Conseil D’Analyse Économique, CAE). This new edition focused on the recovery from ... Read more

    Cristina Herrero declares that reform of the fiscal governance framework will be a key tool for sustainable growth

    The President of AIReF indicates that one of the main challenges of fiscal policy is to begin a consolidation process that not only acts directly on public finances, but also on economic growth Cristina Herrero stresses the importance of fiscal consolidation, not as a synonym for short-term cuts but as efficiency in the use of ... Read more

    Cristina Herrero discusses with the Governor of the Bank of Spain on the role of economic policies after the Covid-19 crisis

    In the Dialogue “Economics and politics during and after Covid-19”, Cristina Herrero proposed that this is the right time to draw up a medium-term fiscal strategy that will allow both the consolidation of public accounts and economic growth In the debate on the reform of the European fiscal framework, she reflected on the role that ... Read more

    Cristina herrero highlights the importance of AIReF’s evaluation activity with healthcare as a key element

    AIReF's evaluation of the efficiency of public spending has just been strengthened through the creation of the Public Spending Evaluation Division “The weight of healthcare spending as a proportion of GDP and public expenditure, its importance as a public service and the challenges ahead mean that evaluating its efficiency is particularly important”, Christina Herrero, President ... Read more