The fiscal crisis: what happened recently?

Fabio Giambiagi ()

Brazilian Journal of Political Economy, 1997, vol. 17, issue 1, 65-85

Abstract: This article updates the discussion of the fiscal situation of the central governmentin Brazil. It is shown that, between 1988 and 1995, the National Treasury revenuesincreased almost 3% of the GDP. Consequently, during 1990-1995, the central governmentexhibited a fiscal equilibrium, a better result than the average deficit of 2.8% of GDP observedin 1985-1989. Despite these numbers, some problems of the current situation of thefiscal accounts are highlighted and the increasing weight of the wages and Social Securityexpenditures, (a) which together jumped from 47% to 60% of the revenues between 1988and 1995, (b) is pointed out as the most important reason for the budget constraint of themajority of the ministries. JEL Classification: E62.

Keywords: Fiscal policy; public debt; budget; public expenditure (search for similar items in EconPapers)
Date: 1997
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