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    AIReF English

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

    AIReF analyses the evolution of debt and updates the long-term sustainability analysis with the proposal for the new fiscal framework

    20240220_Imagen_OD_EN
    The Independent Authority for Fiscal Responsibility (AIReF) publishes the Debt Monitor, in which it reviews the evolution of public debt in 2023, which closed at 107.7% of GDP, a reduction of 3.9 points over the year, although it remains 9.5 points above the pre-pandemic level According to AIReF's estimates, the reduction in the ratio in ... Read more

    AIReF analyses recent evolution of public debt and sovereign markets following latest monetary policy decisions

    Imagen Observatorio de deuda septiembre 2023
    The Independent Authority for Fiscal Responsibility (AIReF) indicates that the debt ratio stood at 2% of GDP in the second quarter of 2023, 0.4 points lower than at the end of 2022 The recent revision of the GDP by the National Statistics Institute (INE) led to a reduction in the ratio of 1.8 points due ... 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

    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