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    AIReF English

    “Our mission is to guarantee effective compliance of the financial sustainability principle by the General Goverment”

    Report on the macroeconomic forecasts of the 2023 Budget of Castilla-La Mancha

    The Independent Authority for Fiscal Responsibility (AIReF) endorses and considers feasible the forecasts for 2023 presented by Castilla-La Mancha. The macroeconomic picture of this autonomous community is framed in a context of enormous uncertainty and the materialization of numerous macroeconomic risks about which AIReF has been warning in previous reports. According to the Law that ... Read more

    “The risks that we perceived a few months ago are materializing”, says Cristina Herrero

    Cristina Herrero en el Colegio de Economistas de Valladolid, Palencia y Zamora
    The President of the Independent Authority for Fiscal Responsibility (AIReF), Cristina Herrero, participated on Tuesday in the inauguration of the new governing board of the Association of Economists of Valladolid, Palencia and Zamora and stated that the risks that were perceived a few months ago on the national and, above all, international stage are now ... Read more

    AIReF expands MIPred information to promote transparency

      It has started to publish the evolution of MIPred in excel format as the indicators are incorporated into the model The Independent Authority for Fiscal Responsibility (AIReF) has expanded the information offered by its model for forecasting the evolution of Gross Domestic Product (GDP) in real time (MIPred), with the aim of promoting transparency ... Read more

    AIReF updates the Local Authorities Observatory

    Observatorio CCLL
    The Independent Authority for Fiscal Responsibility (AIReF) has updated the Local Government Monitor on its website with data on budgetary settlements for 2021, the initial budgets for 2022 and the outstanding debt at the end of 2021. In addition, it has included the average period of payment to suppliers corresponding to the month of May ... Read more

    AIReF considers that in 2023 the exceptional circumstances to keep the escape clause active are still met

    Carpetas de AIReF
      The Independent Authority for Fiscal Responsibility (AIReF) states that the energy crisis and uncertainty over the war in Ukraine are exceptional circumstances that justify maintaining the escape clause active In addition, inflation is leading to a tightening of financing conditions and the coronavirus remains a conditioning factor for the economy AIReF's most recent estimates ... Read more

    Recommendations second quarter 2022

    The Independent Authority for Fiscal Responsibility (AIReF) publishes the follow-up of the recommendations made in the second quarter of the year, in which it issued the Report on the Initial Budgets of the Public Administrations (AAPP) for 2022, completed at territorial level with the issuance of the Individual Reports for the Autonomous Communities (CCAA) and ... Read more

    AIReF worsens the forecast of the Autonomous Region (AR) deficit for 2022 by 0.2 points to 0.9% of GDP

    The Independent Authority for Fiscal Responsibility (AIReF) published last Friday the Report on Budgetary Execution, Public Debt and the Expenditure Rule, in which it worsens the deficit forecast of the AR sub-sector in 2022 to 0.9% of GDP. AIReF thus estimates a greater deficit for the ARs than the Government (-0.8% of GDP) and 0.3 ... Read more

    AIReF raises its inflation forecast to 7.8% and states that it is having an impact on households

      The Independent Authority for Fiscal Responsibility reduces the expected growth for 2022 by 0.1 points, to 4.2%, and raises its inflation forecast from 6.5% to 7.8% after verifying that the risks are materialising It notes that the intensity and persistence of inflation is having a major impact on households’ purchasing power, particularly lower income ... Read more

    AIReF updates the debt monitor and analyses the worsening financing conditions

    Observatorio de deuda julio 2022
    High and persistent inflation in 2022 has led to a major shift in the monetary policy decisions of the main central banks and a deterioration in financing conditions The tightening of monetary policy is leading to sharp upturns in global sovereign debt yields This deterioration in financing conditions will eventually be transferred, albeit gradually, to ... Read more