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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 2014-2015 Economic & Financial Plans of the Autonomous Regions

    Access to report on the 2014-2015 Economic & Financial Plans of the Autonomous Regions Related documents: Press Release

    Report on the macroeconomic forecasts in the Autonomous Regions’ Budgets for 2015

    Access to Report on the macroeconomic forecast in the Autonomous Regions’ Budgets for 2015 Related documents: Press Release Annex

    Supplementary report on the main budgetary lines for 2015 of the Autonomous Regions

    Access to Supplementary report on the main budgetary lines for 2015 of the Autonomous Regions Related documents: Press Release Report by Autonomous Regions: Andalusia Aragon Asturias Canary Islands Cantabria Castilla-La Mancha Castilla y León Catalonia Extremadura Galicia Balearic Islands La Rioja Madrid Navarra Basque Country Murcia Valencia

    AIReF recommneds the implementation of corrective measures in 7 Autonomous Communities due to risks of noncompliance with 2014 deficit target

    Deviation from the budget balance target (set to -1% of GDP) in Extremadura, Cataluña, Valencia y Murcia could exceed 1% of GDP whereas in Castilla-La Mancha, Andalucia and the Balearic Islands deviations could go up to 0.3% of GDP. There is practical certainty of deviation in the Autonomous Regions of Extremadura, Catalonia, Valencia and Murcia and … Read more

    Working Paper 2/2014 Spanish Public Debt Sustainability Analysis

    This note develops an overarching debt sustainability analysis (DSA) framework, encompassing three of its main dimensions: (i) a traditional (deterministic) sustainability exercise, based on a simple accounting application involving the debt accumulation equation; (ii) an assessment of the realism of the assumptions underlying the deterministic debt projections; and (iii) a stochastic exercise aimed at understanding … Read more

    Report on the Projects and Main Budgetary Aspects of Public Administrations

    The 2015 stability target (i.e. 4.2 per cent) appears as very challenging and requires a strict implementation of the presented Budget. In agreement with the requirements stated in its Organic Law, AIreF has assessed the adequacy to the 2015 stability and debt targets and expenditure rule  embedded in the State Draft Budget and the main … Read more

    Working Paper No. 1/2014: Understand the financial sustainability

    Working Paper No. 1/2014: Understand the financial sustainability Access to Working Paper Annex