Airef Gives a Second Pass in Its Review to Pensions, but Warns that They Will Shoot Debt at 123% of GDP in 2050
15 Articles
15 Articles
The new warning from Airef puts on the table again a problem that the government does not seem willing to deal with decisively, that the real sustainability of the public pension system is not guaranteed. Although the Executive insists that compliance with the spending rule guarantees the stability of the model, the data show another much more worrying reality. The ageing of the population, coupled with the constant increase in social spending a…
The Independent Tax Accountability Authority has updated its sustainability analysis of public finances at the request of the Government.
It notes that net spending is at 13% of GDP, below the 13.3% established by regulations.
The Independent Tax Liability Authority (Airef) has been ratified this Friday in its previous diagnosis of the pension system: the latest reforms carried out by the government allow the spending rule to be complied with that prevents further changes in the law, but this does not guarantee that the system is sustainable. The analysis points out that “the risks to long-term fiscal sustainability persist” and sees a failure to comply with the Europ…
The Independent Tax Liability Authority (Airef) has given a second approval this Friday to the pension reform introduced between 2021 and 2023. The organization chaired by Inés Olóndriz has pointed out that there is a "formal compliance" of the pension spending rule, although it has reiterated its criticism of the system by which the evaluation is governed. A formula that, they consider, shows a "partial" view of sustainability. Proof of this, t…
The Independent Tax Liability Authority (AIReF) has issued a devastating report in which it notes that the current state of pension expenditure does not guarantee the sustainability of the system. Thus, professionals point out that this cost will reach 14.6% of Spain’s Gross Domestic Product (GDP) in the coming years. Thus, the body disproves the overly optimistic discourse of the Sánchez government. In this sense, AIReF ensures that the pension…
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