The Independent Authority for Fiscal Responsibility (AIReF) today published its Report on budget execution, public debt, and spending rules in 2025 for the various public administrations (AAPP), a key report in the national fiscal oversight cycle, which aims to identify in advance any risks to compliance with fiscal rules for the current year so that, where necessary, their materialization can be prevented.
The AIReF warns of inconsistencies between the European and national fiscal frameworks. In fact, it estimates that compliance with the national spending rule in the central government (AC) and the autonomous communities (CCAA) would require additional measures of almost €11 billion in 2025, but would lead to over-compliance with the European rule.
