Regra fiscal de despesaexperiências recentes e lições para o Brasil

Resumo

This paper examines the role of expenditure rules within the broader framework of fiscal rules and independent fiscal institutions. It argues that well-designed expenditure rules have the greatest potential for effectiveness because they operate directly on the fiscal policy instrument most readily controlled by governments, provided they are supported by correction mechanisms and independent oversight. The paper reviews leading international experiences and the performance of independent fiscal councils, highlighting their contribution to the credibility and enforcement of fiscal rules. For Brazil, the paper assesses the Fiscal Responsibility Law, the Expenditure Ceiling Rule, and the New Fiscal Framework against international best-practice principles. The findings suggest that Brazil’s main challenge is not the absence of fiscal rules, but rather weaknesses in rule design, unstable fiscal targets, and the lack of structural expenditure reforms. The paper concludes by proposing key elements of a sustainable expenditure rule integrated with an independent fiscal council endowed with an adequate mandate and institutional capacity.

Ficha do documento

Tipo

Estudo

Ano

2026

Instituição

Fundação Getulio Vargas

Fonte

Repositório da FGV

Idioma

Português

Acesso

Acesso aberto

Identificador

oai:repositorio.fgv.br:10438/40294

Temas

EconomiaFinanças Públicas

Palavras-chave

Regras fiscaisPolítica fiscalConselhos fiscais independentesFiscal rulesFiscal policyIndependent fiscal councilEconomiaPolítica tributáriaBrasil. [Lei de responsabilidade fiscal (2000)]Finanças públicas