The Independent Authority for Fiscal Responsibility (AIReF) has the legal mandate to report the budget execution, public debt and spending rule in 2021 of the different Public Administrations (AAPP).
To the extent that the fiscal rules for 2021 are suspended, the analysis focuses on the budget and sustainability forecasts of the Public Administrations. In this context, AIReF’s fiscal supervision acquires more relevance as a guarantor of the sustainability of the Public Administrations.
In the Report, AIReF updates its fiscal forecasts and maintains the macroeconomic scenario unchanged in a context in which great questions remain open about the reactivation of international tourism or the macroeconomic impact that the PRTR will have in the second half of the year. Regarding the fiscal scenario, the deficit of all the AA.PP. it will reach 7.9% of GDP in 2021. This revision is a consequence of the incorporation in its forecasts of the new available information, both of execution to date and that provided directly by the different AA.PP.