A questão do controle da necessidade de financiamento das empresas estatais e o orçamento de dispêndios globais da SEST

Abstract

The paper develops a critical analysis of the financial control the federal government has been imposing on public enterprises in Brazil. It is shown that undue preoccupation with the aggregate outlays of those enterprises has hindered an adequate control oil what really matters: the public enterprises borrowing requirements. The real meaning of those requirements and the reasons to impose control oil them are analyzed, and a discussion of criteria and alternative forms of control is presented. The final section extends some of the conclusions, looking into the concept of overall public sector borrowing requirements and the questionable principles on the basis of which the control on that variable has been implemented in Brazil.