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Fiscal Risks Brazil (IIF)

Brazil: Fiscal Risks Lurk Below the Surface, by Ramón Aracena, published as IIF Research Note. He concludes: “Increased off-balance sheet quasi-fscail operations are diminishing the significance of primary surplus as an indicator of the thrust of fiscal policy. … must be geared to curb primary spending and reduce the ratio of gross public debt to GDP further.”


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