Análise da efetividade do regime de recuperação fiscal no Estado do Rio de Janeiroimplicações, desafios e resultados

Resumo

Purpose: To analyze the effectiveness of the Fiscal Recovery Regime (RRF) implemented in the State of Rio de Janeiro (ERJ), discussing its implications, challenges and results in the context of the severe financial crisis experienced by the state. Methodology: This is a qualitative and quantitative study with a case study approach, using documentary research and data analysis. Fiscal indicators such as personnel expenses, public investment capacity and performance of revenues and expenses of the ERJ before, during and in the end of the RRF period were analyzed. The investigation was based on secondary sources such as official reports from the Rio de Janeiro Department of Finance and documents from the National Treasury Secretariat (STN), complemented by a literature review. Findings: The study identified that the RRF provided immediate financial relief, allowing the continuity of public services and the partial stabilization of some fiscal indicators, such as the reduction in the proportion of personnel expenses in relation to Net Current Revenue (RCL). However, long-term results have been limited, mainly due to the accumulation of financial burdens on debt and the absence of more comprehensive structural reforms. The state's investment capacity remained compromised, making it difficult to return to fiscal sustainability and economic growth. Research Limitations: The analysis was restricted to the state of Rio de Janeiro, with no direct comparisons with other Brazilian states in fiscal crisis, which limits the generalization of the results. Practical implications: The study offers practical subsidies for public managers in the implementation of fiscal recovery policies and contributes to the academic literature by analyzing the challenges and impacts of the RRF in the state of Rio de Janeiro. Social implications: The study contributes to the academic and political debate on the fiscal management of Brazilian states in crisis. In addition, it offers reflections on the challenges faced in the implementation of the RRF and the lessons learned and can serve as a subsidy for future public policies aimed at the fiscal recovery of indebted states. Originality: The research approaches, in an unprecedented way, the critical analysis of the RRF in Rio de Janeiro, evaluating its effectiveness from the perspective of medium and long-term fiscal sustainability. Keywords: Fiscal Recovery Regime. Fiscal Sustainability. Document Analysis. Public Debt Management. Subnational Financial Crisis.

Ficha do documento

Tipo

Dissertação

Ano

2025

Instituição

Fundação Getulio Vargas

Fonte

Repositório da FGV

Idioma

Português

Acesso

Acesso aberto

Identificador

oai:repositorio.fgv.br:10438/36617

Temas

Gestão PúblicaPolíticas PúblicasFinanças PúblicasAdministração PúblicaDadosMeio Ambiente

Palavras-chave

Regime de Recuperação FiscalSustentabilidade fiscalAnálise documentalGestão de dívida públicaCrise financeira subnacionalFiscal Recovery RegimeFiscal sustainabilityDocument analysisPublic debt managementSubnational financial crisisAdministração públicaCrise financeiraRecuperação econômicaDívida públicaRio de Janeiro (Estado)