Análise do endividamento público no período pós plano real

Abstract

The research had as objective to analyze how the Brazilian public debt has evolved and how it was structured in the post Real Plan. Theories about debt and the thinking of some of the main schools of economic thought on the subject were used as theoretical reference. The methodology used can be classified as descriptive, in relation to the procedures, the research is bibliographical, having as main sources for its accomplishment, scientific articles, books and numerical data, mainly of Bacen and IPEADATA. According to the results, the domestic debt has tripled in the period 1994 to 2014, but it has improved its profile, bond maturities increased and the indexes to the exchange rate and the Selic rate decreased, being positive for that the vulnerability to the foreign currency would be reduced and guaranteeing a greater autonomy to the monetary policy when having less bonds indexed to the interest rate (Selic). With regard to external public debt, there was a significant reduction in its amount. With the improvement of the Brazilian economy in the early 2000s, the country was able to accumulate international reserves for the payment of the external debt, which was carried out in 2006. At the end of the period under review, Brazil maintained a considerable value in international reserves and a growing liability in national currency, which, at least in part, occurred due to a process of internalization of the external Brazilian public debt.