The Independent Authority for Fiscal Responsibility (AIReF) today published its Opinion on the reform of the national fiscal framework, an essential element that encompasses the set of rules, institutions, instruments, and budgetary practices aimed at preserving budgetary stability and the sustainability of public accounts.
AIReF analyzes the functioning of the framework since its entry into force and the implications of the reform of the European framework approved in 2024, which has brought about a far-reaching change and includes the amendment of the directive regulating national fiscal frameworks that Spain will have to transpose before the end of 2025. It concludes that a comprehensive reform of the national fiscal framework in Spain is necessary to overcome the weaknesses identified since its implementation and to adapt it to the new spirit of the European framework, which focuses on the medium-term vision, national ownership, and differentiation.
