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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 Stability Programme Update 2023-2026

    The Independent Authority for Fiscal Responsibility (AIReF) publishes the Report on the Stability Programme Update 2023-2026 in which it states that the Government is complying with its commitment to reduce the public deficit to below 3% of GDP over the projection horizon, although, according to the institution's forecasts, this variable will stabilize at 3% from ... Read more

    AIReF estimates deficit will stand at around 3% of GDP in 2026 and debt will rise again from 2030 in absence of additional measures

    The Independent Authority for Fiscal Responsibility (AIReF) notes that the Stability Programme is framed within a transitional context towards new fiscal rules that make the sustainability analysis more important AIReF asserts that the design of the SPU aligns that of previous years and does not constitute an instrument for medium-term planning, despite recommendations from AIReF ... Read more

    Cristina Herrero closes the 30th Meeting on Public Economics at the University of Extremadura

    Clausura XXX EEP
    The president of the Independent Authority for Fiscal Responsibility (AIReF), Cristina Herrero, today closed the 30th Public Economics Meeting at the Faculty of Economics and Business Studies of the University of Extremadura. During her speech, she reviewed the new scenario opening up in 2024 for public finances, which requires a strategic vision focused on long-term ... Read more

    AIReF publishes the first quarter estimate of the composition by regions of national GDP

    Mapa Metcap 1T 2023
    The Independent Authority for Fiscal Responsibility (AIReF) today published the estimate of the GDP of the Autonomous Regions for the first quarter of 2023 using the methodology known as METCAP (Methodology for Quarterly Estimates of GDP by Autonomous Region), created by the Institution. METCAP provides the first open-access estimate in Spain that offers these data ... Read more

    AIReF endorses the macroeconomic scenario of the Stability Programme 2023-2026

    Aval previsiones Programa Estabilidad 2023-2026
    The Independent Authority for Fiscal Responsibility (AIReF) considers that both the GDP growth path and the inflation forecasts are feasible It notes that the endorsement has been made on the basis of information available up to 28 April and does not incorporate possible policy measures that may be contained in the Stability Programme Update To ... Read more

    AIReF receives the Independent Fiscal Institution of Brazil

    Sede de la AIReF
    The Independent Authority for Fiscal Responsibility (AIReF) received today a delegation from the Independent Fiscal Institution of Brazil and held several working sessions to explain to their Brazilian counterparts the peculiarities and the activity of the Spanish institution. In the first session, AIReF explained how the institution was set up in Spain under Organic Law ... Read more

    AIReF updates Debt Observatory following closure of the ratio at 113.2% of GDP in 2022

    Imagen Observatorio Deuda abril 2023
    The Independent Authority for Fiscal Responsibility notes that debt fell by 5 points of GDP last year and shows a clear path of reduction from the peak of 125.7% reached in the first quarter of 2021. In the short term, AIReF projects a further decline in debt in 2023, which would bring the ratio to ... Read more

    AIReF participates in the European Commission’s technical assistance to Poland to implement public expenditure assessments

    The Independent Authority for Fiscal Responsibility (AIReF) today received a delegation from the Polish Ministry of Finance, accompanied by the European Commission, to advise them on the implementation of spending review studies or Spending Reviews. To implement these projects, the Polish Ministry is supported by the Technical Support Instruments (TSI) managed by the European Commission's ... Read more

    Cristina Herrero participates in a colloquium on fiscal rules organised by Fundación Alternativas

    Cristina Herrero en la Fundación Alternativas
    The president of the Independent Authority for Fiscal Responsibility (AIReF), Cristina Herrero, took part today in a colloquium on EU fiscal rules organised by Fundación Alternativas, where views were exchanged on the new EU fiscal framework proposed by the European Commission. Cristina Herrero explained that although the proposal points towards a more flexible framework insofar ... Read more

    Cristina Herrero highlights the key role of public policy evaluation at AIReF

    Cristina Herrero Jornada Evaluación KPMG 3.pdf
    The president of the Independent Authority for Fiscal Responsibility (AIReF), Cristina Herrero, participated today in a conference on Evaluation organised by KPMG, where she highlighted the role played by public policy evaluation at AIReF, which has become a fundamental pillar of the institution. During her speech, the president reviewed the evolution of AIReF's evaluation activity ... Read more