Independent Authority for Fiscal Responsibility

The purpose of the Authority for Fiscal Responsibility is to oversee the sustainability of public finances as a means for ensuring economic growth and the wellbeing of Spanish society in the medium and long-term.

In 2021, it incorporated the evaluation of public expenditure as one of its permanent functions, with the aim of assisting in the development of more effective and efficient policies in favour of citizens.

A few years later, other countries such as Denmark and Germany took the step and, somewhat later, the United States, Belgium, Austria, South Korea, Sweden and Canada also established IFIs.

In February 2014, José Luis Escrivá was appointed as the first President of the institution, after the Finance Committee of the Congress of Deputies accepted the proposal submitted by the Government.

In March 2020, the Government approved the appointment of Cristina Herrero as the new President of AIReF, after the Finance Committee of the Congress of Deputies unanimously accepted her candidacy.

AIReF provides the public with all the relevant information on its Reports, Opinions and Studies, as well as the basis for such analyses, in an open manner.

The institution discloses the methodology and criteria underpinning its Reports, Opinions and Studies in collaboration with the different General Government sub-sectors and international organisations.

She was appointed by Royal Decree 439/2020, of March 3rd, after receiving the unanimous vote in favour of the Finance Committee of the Congress of Deputies.

In March 2021, this Advisory Board was renewed and is currently composed of nine national and international experts of recognised prestige in budgetary, economic and financial analysis.

The new directors, appointed for two-year renewable terms, are as follows: Javier Andrés, Samuel Bentolila, Antonio Cabrales, Olga Cantó, Álvaro Escribano, Beatriz González López-Valcárcel, Eckhard Janeba, Francisco Pedraja and Eva Senra.

AIReF's core activity is the preparation of Reports, Opinions and Studies on the matters covered by the Organic Law establishing the institution.

Within the scope of its powers (monitoring of the budget cycle and long-term sustainability of public finances) and pursuant to Article 23 of its Organic Law, AIReF issues Opinions on its own initiative.

AIReF is a member of this Network, which aims to provide a platform in Europe to help IFIs effectively perform their functions, particularly those arising from the European Union's fiscal framework.