Contratação de empréstimos permitiu alta dos gastos com pessoal de Estados e municípios publicado pelo Credit Suisse (5/2015). “Elevação das dívidas de Estados e municípios explicada principalmente pela ampliação da dívida bancária e externa. A dívida de Estados e municípios como proporção do PIB diminuiu até 2010, permaneceu estável entre 2011 e 2013 e aumentou desde então…”
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