AIReF stresses the “notable shortcomings” of the Budgets that weaken their accountability


The president of the Independent Authority for Fiscal Responsibility (AIReF), Cristina Herrero, has insisted that the General State Budgets (PGE) have “notable deficiencies” that reduce their information quality and weaken possible accountability.

During his appearance before the Senate Budget Committee, Herrero stressed that the Government “has missed” the opportunity that public accounts represent as the main instrument of economic policy.

And it is that if the organism endorsed on October 4 the macroeconomic scenario that accompanies the Budgets by considering the nominal GDP growth foreseen by the Government feasible, it has also warned of the predominance of risks in 2023.

As explained by Herrero, the project, which is now being processed in the Senate after having been approved in Congress, does not contemplate “neither all the income nor all the expenses”.

On the revenue side, he has indicated that the closing forecast for this year is “far away” from the reality that will occur. In fact, he has pointed out that the state revenue forecast for this year will be around 10,000 million euros below the Executive’s initial forecasts.

On the expense side, Herrero has stressed that the extension of the aid measures deployed by the Government is not contemplated. Some measures that, according to AIReF, are going to take place because the macroeconomic conditions of 2023 “are not very different from those of 2022”.

Additionally, the agency has continued to criticize that the accounts still do not provide relevant information in terms of national accounting, something that can significantly alter forecast calculations.