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    AIReF English

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

    AIReF estimates a public deficit of 4,8% in 2022, despite a reduction of GDP growth of 6,3%

    After receiving relevant statistical and economic information, AIReF revises its GDP growth forecasts for 2021 and 2022 downwards, to 5.5% and 6.3%, respectively, compared with the 6.5% and 7% projected by the Government The Government's macroeconomic scenario underpinning the budget remains achievable as it falls within the confidence bands resulting from the probabilistic analysis, although ... Read more

    AIReF endorses Galicia’s macroeconomic forecasts for 2022

    The Independent Authority for Fiscal Responsibility (AIReF) endorses as prudent the macroeconomic forecasts put forward by Galicia  for 2022. However, it considers that the growth estimates for 2021 are very unlikely, although feasible within the current context of uncertainty. According to the Law on the Establishment of AIReF, the macroeconomic forecasts incorporated in the draft ... Read more

    Cristina Herrero states that the tax system is a key tool for the sustainability of public finances

    The President of the Independent Authority for Fiscal Responsibility (AIReF) states that ensuring the sustainability of public finances requires an analysis of both the revenue and expenditure sides Cristina Herrero stressed AIReF’s role as an independent evaluation body that can contribute by providing objective data for decision making The President of the Independent Authority for … Read more

    AIReF endorses the macroeconomic forecasts for the Basque Country and the Valencian Community for 2022

    The Independent Authority for Fiscal Responsibility, AAI (AIReF) endorses as prudent the macroeconomic forecasts put forward by the Basque Country and Valencia. However, it considers that the growth estimates for 2021 are very unlikely and unlikely, respectively, although feasible within the context of current uncertainty. According to the Law on the Establishment of AIReF, the ... Read more

    Cristina Herrero states the economic recovery needs to design the return to fiscal stability

    She argues that the scale of the fiscal challenge makes it necessary to begin a process of fiscal consolidation once the economic recovery gains traction and takes hold Cristina Herrero stresses the importance of a comprehensive strategy that will also address the quality of public finances and the necessary structural reforms She offers the potential ... Read more

    Cristina Herrero analyses the risks and opportunities of economic growth

    On Friday, October 1st, the President of the Independent Authority for Fiscal Responsibility (AIReF), Cristina Herrero, participated in the International Conference of Councils on Economic Policy, organised by the German Council of Economic Experts (Sachverständigenrat Wirtschaft) and the French Council of Economic Analysis (Conseil D’Analyse Économique, CAE). This new edition focused on the recovery from ... Read more

    Cristina Herrero declares that reform of the fiscal governance framework will be a key tool for sustainable growth

    The President of AIReF indicates that one of the main challenges of fiscal policy is to begin a consolidation process that not only acts directly on public finances, but also on economic growth Cristina Herrero stresses the importance of fiscal consolidation, not as a synonym for short-term cuts but as efficiency in the use of ... Read more

    Cristina Herrero discusses with the Governor of the Bank of Spain on the role of economic policies after the Covid-19 crisis

    In the Dialogue “Economics and politics during and after Covid-19”, Cristina Herrero proposed that this is the right time to draw up a medium-term fiscal strategy that will allow both the consolidation of public accounts and economic growth In the debate on the reform of the European fiscal framework, she reflected on the role that ... Read more