The normative aspects of the brazilian public debt

摘要

The purpose of this paper is to present the normative acts about the public debt, especially the Public Responsibility Law that was issued to institute a surveillance tool over the results, as well as to discipline public planning and expenditure, providing tools to penalize public managers. We aimed to interpret the current legislations about governmental budget and analyzing both regulations. We pointed that Brazil ended 2015 with a debt comprising 66.23% of its GDP. Thus, it requires attention of public managers, once there are legal limits for public indebtedness for Municipalities and States, but not for the Federal Government. The methodology known as indirect documentation was applied for theoretical fundamentation – bibliographic research (documental and bibliography research). For the general review were used secondary data available in books, specialized websites and laws and regulations. In Romania, the indebtedness level represented 39.6% of the GDP in 2014, in Brazil 57.19%. The Treaty of Maastricht in 1992, stipulated the limit of 60% of the GDP for the Euro Zone countries. Nevertheless the debt represented 91.9% of the GDP, especially due to Greece, Italy, Portugal, Spain and France. The Brazilian fiscal responsibility law has been developed from the experience of the tax laws of the United States and New Zealand . It is a reinterpretation of the applicable rules the Brazilian public debt compared with the limits set for the countries of the eurozone.