- She highlights as central themes of her tenure the strengthening of fiscal oversight with a medium- and long-term perspective, the consolidation of public policy evaluation as a core function, and AIReF’s commitment to being an institution that serves society as a whole
The former President of the Independent Authority for Fiscal Responsibility (AIReF), Cristina Herrero, appeared today before the Joint Committee on National Security of the Congress of Deputies and gave an account of her tenure at the head of the institution, marked by the strengthening of fiscal oversight with a medium- and long-term perspective, the consolidation of public policy evaluation, and AIReF’s commitment to being an institution that serves society as a whole. All underpinned by its guiding principles: independence, transparency and accountability.
During her speech, she emphasised that accountability is not only one of the guiding principles but also an inherent obligation of holding public office. She highlighted the significance of this appearance as the culmination of a six-year term at the head of the institution and a twelve-year career with AIReF. Cristina Herrero had requested to appear before the Congress’s Finance and Public Service Committee—the committee that approved her appointment—to give an account of her work before the end of her term, but this appearance did not take place.
Cristina Herrero structured her address around three strategic pillars that guided AIReF’s work during her tenure: strengthening fiscal oversight with a medium- and long-term perspective, consolidating public policy evaluation as a core function of the institution, and a commitment to the institution being of service to society as a whole.
On fiscal oversight, she highlighted AIReF’s twice-yearly medium-term macroeconomic and fiscal scenarios, long-term sustainability analyses for general government (2023 and 2025), and the first-ever fiscal risk analysis. This approach, she noted, has helped anticipate the challenges arising from the new European fiscal framework and strengthen the institution’s analytical capacity.
She reviewed the institution’s latest medium-term forecasts which, amid some uncertainty due to the conflict in the Middle East, point to a slowdown in growth in the coming years. On the fiscal side, under unchanged policies, the public deficit would remain below 3% of GDP in the medium term, while debt would follow a downward trajectory, albeit conditioned by structural challenges such as population ageing and productivity trends, which affect the long-term sustainability of public finances.
On public policy evaluation, Cristina Herrero highlighted the steps taken to consolidate this activity within AIReF, including the creation of a dedicated division in 2021, progress in the use of evidence-based methodologies and access to administrative microdata, as well as proposals to improve the effectiveness and efficiency of public spending. She also pointed to the creation of the Observatory of Findings and Proposals as a means of tracking implementation of AIReF’s recommendations. However, she noted that challenges remain, such as strengthening the legal framework for the evaluation function and the need for greater institutional coordination in defining evaluation mandates.
Finally, she underlined the progress made in making AIReF an institution of service to society as a whole, bringing its work closer to general government, Parliament and the public through outreach initiatives, interactive tools and a greater institutional presence, without compromising on technical rigour. She also emphasised the strengthening of the three guiding principles that underpin the institution’s work and AIReF’s role as a benchmark institution in the independent analysis of public finances and a key element of the Spanish fiscal framework.
