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Brazil: Technical Assistance Report-Supporting Implementation of the Expenditure Rule Through Public Financial Management Reforms
Author:
International Monetary Fund. Fiscal Affairs Dept.
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2017: Issue 292
Language:
Portuguese
Publication Date:
04 Oct 2017
DOI:
https://doi.org/10.5089/9781484322512.002
ISBN:
9781484322512
ISSN:
2790-4431
Pages:
65
Keywords:
ISCR; CR; expenditure rule; budget process; annual budget; expenditure ceiling
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Faced with significant economic and fiscal challenges, the Brazilian government is reforming its fiscal framework to promote fiscal sustainability and reduce debt. Since 2015, Brazil has struggled with its deepest economic recession in decades and ongoing political tensions. The fiscal situation has deteriorated sharply with a significant drop in revenues and debt increasing above the emerging market average. Within the past year, the government has made significant progress in reforming its fiscal framework. In late 2016, a new expenditure rule was established and a new IFI was created. Reforms are also ongoing in several areas, including a new public financial management (PFM) law currently with the legislature.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund