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- Title
Financing Federal Expenditures - lessons from COVID-19 in Brazil.
- Authors
Pimentel de Godoy Júnior, José Eduardo
- Abstract
This article describes the current Brazilian legal framework (fiscal rules) regarding the financing of federal public spending and analyzes what were the main sources of financing for the Central Government in 2020, highlighting the lessons and challenges that the COVID-19 pandemic brought to Brazil. At the federal level, the main traditional sources of public financing reside in cash availability from previous years, taxation and other government own revenues, the placement of securities in the market, and transfers from the Central Bank to the Treasury. In normal situations, fiscal rules limit financing from traditional sources and prohibit the issue of money to finance fiscal expenditures. However, in exceptional situations, such as those generated by COVID-19, where traditional sources may be insufficient, the need is created to make fiscal rules more flexible in order to meet the temporary and emergency needs of the country.
- Subjects
BRAZIL; COVID-19 pandemic; PUBLIC spending
- Publication
Cadernos de Finanças Públicas, 2022, Vol 22, Issue 2, p2
- ISSN
1806-8944
- Publication type
Article