The study displayed here has as objective to discuss beyond Fiscal Responsibility Law (FRL) from the point of view of its relevance for the Brazilian fiscal adjustment. For this, the main devices of this law are presented exploring their possible impacts in the Brazilian public accounts in the next years. The analysis has been made based upon a theoretical reference that although simple it is extremely useful for the study of fiscal questions, therefore emphasizes the interrelation of the variables which influence directly in the evolution of the public debt. Based on this reference and on the brief examination of the fiscal results presented by the country during the Plano Real it argues that the FRL does not guarantee the Brazilian fiscal balance therefore it does not exercise a significant control in the financial expenses of the public sector.
Fiscal responsibility law; fiscal policy; public debt; fiscal adjustment; public accounts
