Endividamento público: consequências e o seu controle jurídico

Abstract

Public debt has assumed a prominent position in contemporary public finances. With it, economic, social and political problems became evident, which began to demand due attention from the Law. Since then, many public spending control standards have been developed around the world. Fiscal and public debt sustainability have become protagonists of public finances and Financial Law. However, there is little attention regarding the publication of rules that regulate other macroeconomic policies, despite the fact that monetary and exchange rate options also impact public debt in the same way as fiscal choices. The direct and immediate consequence is that economic policies have turned to cutting public spending, which, combined with the growing scarcity of budgetary resources, causes an intense allocation dispute between the various State expenses. With the increase in distributive conflicts, the Judiciary is called upon to resolve them, despite their multidisciplinary aspects and the high technical complexity that surround them. At the same time, the Judiciary is accused of its “activism” or “passivity”, which leads to conflicts between the Powers and attempts to usurp its functional independence. It is essential, therefore, that the control to be exercised over public debt deserves due attention from all the constituted Powers and institutions involved in the management of public debt.