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Policy Brief 1 – now available (only in Portuguese).

In this Brief, we start off by explaining how the budget balance can be broken down into three separate parts: the structural budget balance, the cyclical component, and one-off measures. Then, we question whether the most prominent fiscal measures listed in the Draft Budgetary Plan for 2016 can be in any way regarded as “one-off”. Finally, we briefly analyse the implications of correcting the budget balances of recent years, according to the argument that if the budget cuts of recent years were supposed to be temporary, then these should have been registered as “one-off” measures rather than “structural” consolidation efforts.

Download IPP Policy Brief no. 1 here (PDF, Portuguese only).

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