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    AIReF English

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

    Technical document 1/20. Update of demographic and pension expenditure forecasts

    The Independent Authority for Fiscal Responsibility (AIReF) publishes the update of its demographic and pension expenditure forecasts. One of AIReF's functions is to analyze and diagnose the sustainability of public finances. In this regard, the evolution of demographic variables is a fundamental determinant for some public spending items, most especially for pension spending, as well ... Read more

    AIReF recommends activating the escape clause, establishing a medium-term fiscal strategy, and implementing the proposals of the Spending Review

    Rueda de Prensa en AIReF
      The Independent Authority for Fiscal Responsibility continues to use an analysis framework based on two alternative scenarios, which differ in their estimated drop in GDP in 2020, ranging from -10.1% to -12.4% in 2020 depending on the duration of the pandemic  In budgetary matters, AIReF estimates a general government deficit of 11.9% in 2020, ... Read more