Independent Authority for Fiscal Responsibility applies to jurisdiction Spain
The Independent Authority for Spanish Fiscal Responsibility (Autoridad Independiente de Responsabilidad Fiscal española, AIReF) is an independent agency for fiscal control in Spain. It was created in 2013 by the Spanish Government, on the initiative of the European Union and to implement a constitutional mandate.
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. It has its own legal personality and full public and private capacity. It carries out its functions autonomously and independently from the General Government and acts objectively, transparently and impartially.
AIReF was set up in 2013 (2013) in implementation of the constitutional mandate set out in Article 135. On November 14, 2013, Organic Law 6/2013, on the establishment of the Spanish Independent Authority for Fiscal Responsibility, was approved. In June 2014, it began its activity.
Its mission is to ensure that the General Government effectively complies with the budget stability principle set out in Article 135 of the Spanish Constitution through ongoing monitoring of the budget cycle, public borrowing and the analysis of economic forecasts. 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.