The “Mais Brasil” Plan

BRAZIL ECONOMICS - Report 14 Nov 2019 by Affonso Pastore, Cristina Pinotti and Marcelo Gazzano

Last week the Ministry of the Economy announced the so-called “Plano Mais Brasil” (“More Brazil Plan”), which consists of three proposed constitutional amendments (PECs): the Emergency PEC; Federative Pact PEC; and PEC of the Funds. The plan rests on four pillars: a) monitoring and control of public spending; b) standardization of the fiscal accounting criteria of the state and municipal governments; c) redistribution of revenues from exploitation of natural resources; and d) re-evaluation of public funds and tax relief measures. In this Special Report we provide a brief analysis of the Plan, which is based on a correct diagnosis. In summary, the set of proposals takes another step toward fiscal consolidation and improvement of the country’s fiscal institutions.

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