The Dynamics of Public Debt

This book analyses the dynamics of the Brazilian public debt based on the asset and liability structures of the public sector. This approach seemed appropriate in view of the changes in the asset structure that have taken place today, since it characterises the simultaneous expansion of real estate debt and of internal and external assets through repo operations. The analysis boils down to pointing out the difference between the trajectories of the government's gross debt in general and the public sector's net debt, showing an important result that the fall in net debt is slower, an issue that will be seen in the course of this work.