Finanças públicas brasileirasalgumas questões e desafios no curto e no médio prazos

Resumo

This paper aims to analyze some questions about public finances, emphasizing the trends of the public debt in midium run. The paper claims that recent growth of net public sector debt was associated basically to rising interest rates and to exchange rate depreciation in the last years. On the other hand, the public debt is expected to show a stable path, in the midium run, even if primary surpluses fall slightly under the current level. In 2003, it is possible to obtain a consolidated primary surplus around 4.5% of GDP, without additional fiscal effort, because of rising inflation. However, due to the expected reduction of CPMF (a federal compulsory contribution on banking deposits and withdraws) revenues, among other things, there could be a reduction of financial resources in 2004, so as to become very difficult to attain a 2.75% of GDP primary surplus for the central government, according to current estimations. Moreover, this paper deals with polemic and relevant subjects on the management of fiscal policy in the next years, such as: the size of Brazilian tax burden; the calculation of the Public Sector Borrowing Requirements (NFSP) vis-à-vis inclusion or exclusion of the figures of public enterprises; problems, policies and the schedule of investment of Brazilian power sector from 2002 to 2011; the alleged real losses of the public servants’ income in the last years; and the “stiffening” of the government expenditure structure.

Ficha do documento

Tipo

Estudo

Ano

2003

Instituição

Instituto de Pesquisa Econômica Aplicada (Ipea)

Fonte

Repositório do Ipea

Idioma

Português

Acesso

Acesso aberto

Identificador

oai:repositorio.ipea.gov.br:11058/2929

Licença

Licença Comum

Abrangência

Brasil

Temas

Gestão PúblicaFinanças Públicas

Palavras-chave

Finanças públicasDívida públicaEndividamento públicoPolítica fiscal