The Independent Authority for Fiscal Responsibility (AIReF) is a fiscal supervisor that must ensure strict and effective compliance with the principle of budgetary stability and financial sustainability provided for in Article 135 of the Constitution by all Public Administrations. To achieve this, it continuously evaluates the budget cycle, public indebtedness and economic forecasts through the mandatory reports established in Organic Law 6/2013:
Reports
- Macroeconomic forecast
- Methodology for calculating trend revenue and expenditure forecasts and baseline growth rate
- Stability Programme Update
- Expected compliance with objetives
- Individual objectives for Autonomous Regions
- Economic Finantial Plans
- Main Budgetary Lines of the Public Administrations
- Correction mechanisms provided for in the Budgetary Stability and Financial Sustainability Law
- Concurrence of the exceptional circumstances referred to in Article 11.3 of the Organic Law on Budgetary Stability and Financial Sustainability
Recomendations
In these reports, AIReF issues recommendations to the Public Administrations that are governed by the comply or explain principle. This means that they must comply with the recommendations or, failing that, explain why they do not comply with them. Administrations have one month to respond. Subsequently, AIReF publishes the follow-up of the recommendations and the responses by quarters on its website.
Others publications
AIReF also publishes other types of publications related to supervision, such as Opinions or Technical Documents. Latest outstanding publications:
Tools
AIReF has also developed several tools to monitor the evolution of the budget cycle:
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