Webinar looks at government spending ceiling and fiscal credibility
The spending ceiling is an important tool for controlling the federal government’s expenditure. However, recent changes to the rules, such as the early payment of court-ordered obligations and a new way of adjusting the ceiling, approved by the House, have caused uncertainty and harmed macroeconomic indicators, with the currency depreciating, the stock exchange plummeting and the country’s risk ratings deteriorating. Amid debate about the spending ceiling’s importance, Fundação Getulio Vargas’ Brazilian Institute of Economics (FGV IBRE) and the O Estado de S. Paulo newspaper will hold a webinar called “How to Restore the Credibility of Fiscal Policy” on November 25, at 10 am, on FGV’s YouTube channel.
The director of the Senate’s Independent Fiscal Institute (IFI), Daniel Couri, and FGV IBRE associate researchers Fabio Giambiagi and Manoel Pires will discuss how to rebuild the credibility of fiscal policy while guaranteeing a portion of the budget for programs aimed at the most vulnerable, given that the government’s planned welfare changes are temporary and due to end in December of next year, resulting in a combination of both fiscal and social risk. The moderator will be O Estado de S. Paulo special reporter and columnist Adriana Fernandes.
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