Spanish AIReF


The Airef Says That Revaluing Pensions With The CPI (13.5 Billion Euros) Leaves The Government With No Margin For More Public Spending

Cristina Herrero, president of the Independent Authority for Fiscal Responsibility (Airef) calculates that pensions will have to be revalued at 9%, which will cost 13.500 billion euros of the 15 billion increase in spending recommended for 2023. This would leave the government with no margin to increase social or defence spending. Herrero warned that “inflation increases revenue in the short term but deteriorates public finances in the medium term because…