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    AIReF English

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

    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 and Bank of Spain continue their collaboration on exchange of public sector information

    Carpetas de AIReF
    The two institutions have signed a new agreement, similar to the one signed in July 2017, which includes the exchange of information, continuous staff training plans and joint research projects The Independent Authority for Fiscal Responsibility, AAI (AIReF) and the Bank of Spain have signed a new four-year agreement to continue their collaboration on regular ... Read more

    Cristina Herrero: “The economic and fiscal situation requires responsibility from all tiers of government”

    Cristina Herrero en NEF 2
    The President of the Independent Authority for Fiscal Responsibility (AIReF), Cristina Herrero, has taken part today in the Europa Forum organised by Nueva Economía Fórum where she reviewed the economic and fiscal situation of the country. In her opinion, Spain is undergoing a complex period that requires responsibility and commitment from all tiers of government. ... Read more

    AIReF endorses Castile-La Mancha’s macroeconomic forecast for 2024

    Sede de la AIReF
    The Independent Authority for Fiscal Responsibility (AIReF) endorses the Regional Accounts forecasts that accompany the 2024 draft budget of Castile-La Mancha, which includes GDP growth estimates in volume terms and at current prices, and employment estimates in terms of people in work for the period 2023-2026 that are different from the latest macroeconomic scenario estimates ... Read more

    AIReF publishes the second quarter estimate of the composition of national GDP by Autonomous Regions

    The Independent Authority for Fiscal Responsibility (AIReF) published today the estimate of the GDP of the Autonomous Regions for the second 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 publishes the studies of the third phase of the Spending Review 2018-2021

    Carpetas de AIReF
    The Independent Authority for Fiscal Responsibility (AIReF) has published today on its website two studies on 'Municipal Waste Management' and on 'Public Sector Financial Instruments to Support Productive Sectors of the Spanish Economy', which are part of phase III of the Spending Review 2018-2021 committed with the European Commission. The publication of both studies is ... Read more

    AIReF warns of a 9% expansion of expenditure in large Local Governments

    Sede de AIReF
    Including the positive impact of the 2020 settlement compensation, the surplus forecast is 3% of its revenues.   In its report of 6 July AIReF recommended the Local Governments (LGs) to avoid increases in expenditure or reductions in revenue that do not have permanent financing, a recommendation that is still valid today.   Of the ... Read more

    AIReF improves its GDP growth forecast to 2.3% by 2023 and maintains the deficit at 4.1% of GDP

    Carpetas de AIReF
    The Independent Authority for Fiscal Responsibility (AIReF) improves the GDP forecast based on the new estimates from INE's Quarterly Accounts It estimates CPI growth of 3.7% in 2023, somewhat lower than projected in the spring, while the GDP deflator is expected to grow by 4.8% The extension of the measures implies an increase in the ... Read more

    AIReF forecasts that the Autonomous Regions will close 2023 with a deficit of 0.4% of GDP

    Informe Ejecución 2023
    The Independent Authority for Fiscal Responsibility (AIReF) published today on its website the Report on Budget Execution, Public Debt, and the Expenditure Rule for 2023 and the individual reports of the Autonomous Regions (ARs). In the general report, AIReF raises the sub-sector deficit for 2023 by one tenth of a percentage point to 0.4% of ... Read more

    AIReF holds a workshop with the main research services to address the challenges of economic forecasting

    Workshop AIReF servicios de estudio
    The Independent Authority for Fiscal Responsibility (AIReF) held today a workshop with the country's main research services to address the challenges of economic forecasting in Spain. The president of AIReF, Cristina Herrero, who opened the session, pledged to repeat the workshop every year so that it becomes a meeting point for generating debate and enriching ... Read more