O ajuste fiscal nos estados 1998-2007

• Autor(a) principal: Dall'Acqua, Fernando Maida
• Data de Publicação: 2008
• Tipo de documento: Relatório
• Idioma: por
• Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
• Texto Completo: http://hdl.handle.net/10438/13353
• topic: Ajuste fiscal estadual; Superávit primário; Carga tributária; Administração de empresas; Tributos; Superavit (Economia)

The purpose of this report is to investigate the process of fiscal adjustment of the Brazilian states in the last ten years. There is wide consensus that the critical variables of the increasing sustentability of fiscal equilibrium at the state level are Law nº 9.496/97 that linked the state debt renegotiation to the implementation of a deep fiscal adjustment program and the mandatory fiscal conditions imposed by Fiscal Responsibility Law. The report shows that the pattern of fiscal adjustment in most of Brazilian states was marked by a strong increase of the tax receipts. In fact, the policies put in place by the state authorities did not focus on the level and composition of public expenditure. As a result, despite the merits of the primary surplus obtained by most of Brazilian states, we observe that they were achieved by a poor fiscal adjustment pattern since the surpluses were essentially due to an increased tax burden.