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This paper identifies refinements to the macroeconomic framework that will help Brazil to achieve strong performance in a new environment.
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Despite considerable progress in many areas, there remains substantial scope for making government operations more cost-effective. Brazil spends a high share of GDP on selected government financed programmes in relation to many OECD countries and its emerging-market peers, but outcome indicators are often comparatively poor. As a result, in the absence of efficiency gains, further increases in spending would need to be financed
28-May-2008
English, , 77kb
Brazil has now entered a more advanced phase of economic development, with the need to strengthen the institutional foundations for a market-based economy.
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