Brazil: Fiscal Transparency Evaluation

IMF Staff Country Reports, May 3, 2017

Source details

This report assesses fiscal transparency practices in Brazil in relation to the requirements of the IMF Fiscal Transparency Code.
Brazil’s practices meet many of the principles of the code at good or advanced levels.
Fiscal statistics encompass the general government sector and recognize most of its assets and liabilities.
Fiscal reports are published frequently and in a timely manner.
Annual financial statements are audited by the Federal Court of Accounts.
The transparency of fiscal forecasting and budgeting benefits in some areas from good or advanced practices.
The institutional scope of budget documentation is comprehensive, and the key sequences of the budget process are timely.

Fiscal statistics and coverage
- General government sector coverage is included in fiscal statistics.
- Most assets and liabilities are recognized within those statistics.
Reporting timeliness and audit
- Fiscal reports are published frequently and in a timely manner.
- Annual financial statements are audited by the Federal Court of Accounts.
Forecasting and budgeting transparency
- Fiscal forecasting and budgeting show good or advanced practices in some areas.
- Institutional budget documentation is comprehensive.
- Key sequences of the budget process are timely.

Subject: Budget planning and preparation, Expenditure, Financial statements, Fiscal risks, Public debt, Public financial management (PFM)
Keywords: accounts payable, balance sheet, Budget planning and preparation, budget year, Caribbean, central bank, central government, CR, financial assets, Financial statements, financial support, Fiscal risks, General government Gross Debt, Global, government bears risk, government finance statistics yearbook, government payment, government policy, gross revenue, ISCR, pension entitlement, real GDP