The Independent Authority for Fiscal Responsibility of Spain (AIReF) is endorsing the Stability Programme Update (SPU) of the Spanish Government.
With this comprehensive report on the SPU, AIReF has evaluated the Public Administrations’ (PAs) initial budgets for 2020, which had been delayed due to the current exceptional situation and the fact that the 2020 General State Budgets haven’t yet been presented and approved. However, uncertainty regarding the impact of the crisis on the Regions and the distribution of non-reimbursable funds announced by the Government has forced the individual reports for each of the Regions to be postponed.
In any case, the situation of extreme uncertainty means that the 2020- 2021 estimates from both AIReF and other institutions, including those covered by the SPU, should be treated with greater caution than usual. These estimates should be subjected to continuous review, based on any new information that may become available.
Read the Executive Summary on the 2020-2021 Stability Programme Update here