The President of the Independent Authority for Fiscal Responsibility (AIReF), Cristina Herrero, took part today in an economic debate at the UK Ambassador’s residence in Madrid, together with Richard Hughes, president of the Office for Budget Responsibility (OBR), the UK’s Independent Fiscal Institution.
The meeting addressed the importance of fiscal institutions in the current economic context, characterised by unfavourable long-term debt dynamics that will push public finances into a vulnerable situation.
Cristina Herrero explained AIReF’s role in the Spanish economy, an institution that aims to be useful to society with rigorous analysis and the sustainability of public finances at the heart of its activity. She also reviewed the macroeconomic context and its implications for fiscal policy.