March 5, 2021

The Government appoints Cristina Herrero president of the Independent Fiscal Authority



The Council of Ministers has agreed on Tuesday to appoint Cristina Herrero as the new president of the Independent Authority for Fiscal Responsibility (AIReF), an organization that was already chairing since mid-January to replace José Luis Escrivá, after being appointed this Minister of Inclusion , Social Security and Migration of the new Coalition Government.

In the press conference after the Council of Ministers, the spokeswoman of the Government and Minister of Finance, María Jesús Montero, stressed that Herrero is “a professional with a long career of recognized prestige” and has praised the “commendable work” as director of the Agency’s Budget Analysis Division since its creation.

Montero has affirmed that the Government is convinced that Herrero will develop “independent and rigorous” work at the head of the Fiscal Authority, an agency that “has earned its deserved respect inside and outside the borders for the quality and rigor of its reports” . “We want him to have the necessary parliamentary support,” he added.

Herrero, who before replacing Escrivá held the position of director of the Division of Budgetary Analysis of the AIReF, held the Presidency of the agency on January 13 on an interim basis in accordance with the rules of internal regime of the institution. The appointment of Herrero by the Ministry of Finance replaces that of Escrivá in the AIReF, which began through a royal decree on February 21, 2014 and ended in January when he was appointed minister.

Herrero will direct the AIReF in a context of close approval and parliamentary processing of the General State Budget (PGE) project of 2020, once the ‘expenditure ceiling’ and the new path of stability have already come to light, which shows that Spain You will have to make a fiscal consolidation effort again to reduce your deficit and public debt levels.

Therefore, you should evaluate with your team the estimate of income and expenses of the new accounts and submit the corresponding report to the Committee on Budgets of Congress and the Senate. In parallel, it must also work in relation to the resumption of the Toledo Pact Commission to clean up the Social Security accounts.

In addition to taking charge of fiscal control to try to guarantee the principle of budgetary stability and financial sustainability of the country, it must continue with the work on the review of public spending (‘spending review’) that AIReF has been carrying out in the last two years on behalf of the Government.

For his position he must attend as a born member with voice but without vote to the Fiscal and Financial Policy Council (CPFF), the National Local Administration Commission (CNAL) and the Social Security Financial Commission.

Article 24 of the AIReF Creation Law establishes that the president will be appointed by the Council of Ministers, at the proposal of the Minister of Finance, after the appearance of the person proposed for the position before the corresponding Commission of the Congress of Deputies, in order to examine whether the experience, training and capacity of the proposed person are adequate for the position.

The Congress, through the competent Commission and by agreement adopted by absolute majority, will accept the proposal. If 15 days have elapsed since the appearance there was no acceptance, the simple majority of the competent Senate Committee will be sufficient to express the acceptance.

In accordance with the law of creation of the AIReF, the president will be designated among persons of “recognized prestige and minimum experience of ten years of professional practice in matters of budgetary, economic and financial analysis of the public sector, especially assessing their independence and objective objectivity “.

The Management Committee of the institution will continue to be formed, in addition to Cristina Herrero as president, by the director of the economic analysis division, Carlos Body, and by the director of the institutional legal division, Diego Pérez.

Technical profile

Herrero is part of the management team of the AIReF since its foundation and assumed the direction of the budget analysis division in 2014. In addition, she has a degree in economic and business sciences from the Complutense University of Madrid. She is also an auditor and audit of the State and Inspector of the Treasury.

From 1993 to 2000 she was head of area in the general subdirection of analysis and economic accounts in the general subdirection of analysis and economic accounts of the public sector within the General Intervention of the State Administration (IGAE). Also, between 2000 and 2005 she was an advisory member of IGAE as coordinator of the preparation of national accounts in the public administrations sector.

In November 2005, he held the general subdirectory of budget analysis and institutional organization of the autonomous public sector of the General Secretariat of Autonomous and Local Coordination.

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