The Independent Authority for Fiscal Responsibility (AIReF) today reported on the Economic and Financial Plan (PEF) for the Canary Islands, which was required to submit a PEF due to its failure to comply with the spending rule in 2024, as confirmed in November, as other regions did last July. The AIReF, in application of the Budget Stability Law, is required to report on the PEFs before they are approved by the Fiscal and Financial Policy Council (CPFF).
AIReF concludes that the measures included in the reported plan are insufficient and recommends that the Canary Islands incorporate additional measures sufficient to ensure compliance with the spending rule throughout the period, detailing their elements, effects, and implementation schedule; and include estimates of the balance and debt compatible with such compliance.
