IMF Staff Country Reports

Brazil : Technical Assistance Report-Supporting Implementation of the Expenditure Rule Through Public Financial Management Reforms

Author/Editor:

International Monetary Fund. Fiscal Affairs Dept.

Publication Date:

October 4, 2017

Electronic Access:

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Summary:

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.

Series:

Country Report No. 17/292

Subject:

Brazil Budgeting Economic forecasting Financial management Fiscal policy Fiscal sustainability Government expenditures Technical Assistance