- AIReF strengthens fiscal supervision following the entry into force of the new European fiscal framework and publishes its second Opinion on long-term sustainability, accompanied by ten technical methodological documents
- It advances the consolidation of public policy evaluation with the completion of major evaluations (civil servant mutual insurance, financial instruments, the Minimum Living Income and Temporary Disability) and the expansion of the Observatory of Findings and Proposals
- It develops new analytical tools and capabilities, including the MEGAIReF general equilibrium model and the first Opinion on fiscal risks, with an initial assessment of risks associated with climate change
- It reinforces accountability and transparency through voluntary appearances before Parliament, new channels for institutional dialogue and the launch of AIReF Divulga to bring public finances closer to citizens
The Independent Authority for Fiscal Responsibility (AIReF) has published its 2025 Annual Report, detailing the work carried out in the areas of fiscal supervision, public policy evaluation and the reinforcement of its guiding principles of independence, transparency and accountability.
The report covers all activities undertaken in 2025 and the opening months of 2026 in fulfilment of the final Action Plan of Cristina Herrero’s term of office, together with the degree of implementation of the 2020–2026 Strategic Plan. During this final phase, the institution focused particularly on meeting the objectives set out in the Strategic Plan and on strengthening accountability.
Fiscal supervision and the new European framework
Throughout 2025, AIReF continued to discharge its supervisory function in a context shaped by the entry into force of the new European fiscal framework. The institution held seminars with all public administrations to analyse the implications of the new framework and issued reports and opinions on the main fiscal variables, notably an opinion on the adaptation of the national fiscal framework containing specific proposals to inform decision-making.
AIReF also reinforced its medium- and long-term perspective in 2025 with the publication of its second Opinion on the long-term sustainability of public finances, accompanied by ten technical documents setting out AIReF’s methodologies and assumptions.
Consolidation of public policy evaluation
The Report also reflects the consolidation of evaluation as a permanent function of AIReF. Over the course of the year, the institution completed major evaluations including the healthcare provision of the civil servant mutual insurance system, financial instruments in support of productive sectors, the Minimum Living Income and Temporary Disability.
Advanced analytical tools have also been deployed and administrative microdata exploited to enhance the methodological rigour of this work.
Healthcare has been a central focus of evaluation activity among the Autonomous Regions, which have commissioned a range of studies from AIReF. At the international level, the Council of the European Union has reaffirmed Spain’s commitment to continuing with the Spending Reviews, launching a new multiannual cycle and demonstrating that their findings have been factored into policy decisions.
The Observatory of Findings and Proposals continues to establish itself as a key tool for tracking the recommendations issued by AIReF. In 2025, AIReF worked to broaden the scope of this tool—recognised as international best practice—to encompass studies by regional administrations as well. A resolution has also been published clarifying the criteria for prioritising evaluations, and a new section has been created on the website to gather citizens’ views on the areas that should be evaluated.
New analyses and enhanced outreach
Over the course of the year, AIReF also strengthened its analytical capabilities, notably through the development of its own general equilibrium model, MEGAIReF, and deepened its ties with academia. New analyses were also published, including the first Opinion on fiscal risks—a pioneering piece of work in Spain incorporating, among other elements, an initial assessment of climate change-related risks.
AIReF has also stepped up its communication efforts with the launch of AIReF Divulga, a project aimed at a non-specialist audience through which the institution seeks to make public finance issues that affect everyone accessible in clear, straightforward terms.
Accountability
To strengthen accountability, AIReF took the initiative of requesting to appear before Parliament twice during the year, established a direct communication channel with the Congressional Research Service, and continued its annual practice of inviting the spokespersons of the political groups on the Congressional Finance and Budget Committees to an open, informal and frank forum for dialogue.
The publication of the Annual Report is one of the institution’s principal accountability mechanisms. It sets out the degree of fulfilment of the Action Plan, the resources deployed, internal organisation and the main lines of work pursued during the year. With this publication, AIReF reaffirms its commitment to transparency and to strengthening fiscal governance in Spain.
