STAYIN’ ALIVE: BRAZILIAN BUDGED IN TIMES OF COVID-19

JOAO INOCENCIO JUNIOR

Universidade Federal de Pernambuco

FERNANDO GENTIL DE SOUZA

Universidade Federal de Pernambuco

LUIZ CARLOS MIRANDA

Universidade Federal de Pernambuco

Abstract
The COVID-19 pandemics worsened the fiscal situation in all countries of the globe. The case
of Brazil, as an emerging economy, was even more aggravated, requiring flexibility in the
public budget to face the newest expenses of the national health system. This paper aims to
better understand whether: 1) Brazilian Public budged changes and flexibilization due to
pandemics; 2) if a different accounting standard was adopted. 3) The mimetic behavior
between countries on public support due to pandemics. This Analysis has identified Brazilian
response to the pandemic in terms of the budgetary policy, financial help in general (with
emphasis on SME’s) and identified those changes either in budget and financial help have an
isomorphic behavior accordingly the new institutional theory. Our response to the case of
isomorphism is positive, there are a common sense between countries in order to flexibilize
the public budget in order to help either the health system as SME’s. Finally, this research has
as main limitations the spatial and temporal dimension. The analysis was limited to
information released that deals with the period from the beginning of the pandemic in 2020
until the submission of this work for analysis, making generalization or even the final
conclusion impossible since the pandemic is ongoing. As suggestions for future research. In
addition, it is suggested to investigate other countries with explanatory potential for budget
changing during pandemics related to the public budget.
luis

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 1 INTRODUCTION

The covid pandemic 19 worsened the fiscal situation in all countries of the globe. The
case of Brazil, as an emerging economy, was even more aggravated, requiring flexibility in
the public budget to face the newest expenses of the national health system.(Ahrens & Ferry,
2021)
Around the globe governments have responded the pandemic crisis with conventional
revenue and expendure interventions (e.g. furlough schemes that subside SME’s in order to
keep employees on their staff, grants to self-employed workers, large-scale loans etc.) with
the expectation that the economy still alive and may continue operating after the crisis a new
type of public accounting is and needs to be considered, which thinks sustainable.(Metcalfe
& Taylor, 2021).
Such expendure demands the national budget to be flexibilized, in other terms, the
executive and its state agencies are allowed to spend more, so the central goverments may
give voluntary transferences for the subnational entities (cities, governors, agencies, state
controlled companies and third sector which provides free health treatments for common
citizens). In Brazil the budged was flexibilized by successive legal measures taken by the
Executive Branch (poder executivo) either from legislative power (congresso nacional).
(STN), 2021)

Within the short period since the announcement of COVID-19 as a pandemic,

governments have deployed additional budget resources, using the powers available
in a time of crisis through existing legislation and/or by declaring a national state of
emergency. The implementation of the responses has occurred as rapidly as the
design and announcements. In the majority of instances, budget measures have been
submitted to parliaments for approval along with new legislation to enable the
implementation of the new measures. A number of governments have sought
approval from parliament to access additional resources if required. At this time,
little information is available on the performance expectations attached to the
additional resources. (OECD, 2020)

It’s familiar to hear expressions like ‘How to save lifes? Does the lifes has a cost?’ but,
is the solution just spending the money with no suffient control? (of its final destination,
effectively been spent on health sector) or, maybe, before the money is given how about to
create some prerequisites instead of entering in another corruption scandal when the budged
execution is misguided?

In tackling the COVID-19 crisis, the International Monetary Fund called on

governments “to do what it takes but to keep the receipts.” This entails ensuring the
funds are spent for the purpose intended and accounted for and reported
appropriately. Also, governments would need to prevent fraud and meet citizens’
expectations on transparency of public spending.(Metcalfe & Taylor, 2021)

The most of Jobs in brazilian economy came from the opportunities that Small and
Medium firms create, and so, is traditionally a common concern about countries in a
globalized world. They are responsible for the most part of Jobs and economic activities.in
times like these the mankind is passing all the countries in general tend to provide economic
support whether tax incentives, grants etc. So, the Brazilian COVID 19 costs also has
provisions to help SME’s. (STN, 2020)
The problem isn’t over and there isn’t a date to end so Brazil a and other countries have
to learn on the job how to deal with this big global problem that has a lot of influence on

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domestic affairs and maybe take that crisis as an opportunity to get along with measures to
improve the national rules on public accoutantcy framework. (Cohen et al., 2021)
The main question of this work is to look at the academic papers and gray
documentations to find out and critically answer how relevants were the propositions legal
measures taken by Brazil to flexibilize the public budget in order to cover the pandemics
costs in general (either giving direct health treatments or state-backed loans to SME’s)
Accordingly, the opportunity is to better understand: 1) Brazilian Public budged change
and flexibilization due to pandemics; 2) if a different accounting standard was adopted. 3)
The mimetic behavior between countries on public support due to pandemics. For reviewing
the reliability and validity of our results, an overview of the specific details are provided in
this work

1.1 BRAZILIAN LEGAL FRAMEWORK ON PUBLIC BUDGET IN THE CRISIS

Asses latin America as a monolith is a mistake. Besides being diverse culture, the
region’s appears to have significant difference of the size between the coutries. Brazil is the
biggest economy of latin America and it justifies the choose of that country due to its
relevance.
The Brazilian budget was made more flexible to deal with the pandemic correctly,
through the so-called "war budget", the National Congress authorized the Executive to exceed
the limits of public spending. The congress did so through an amendment to the Brazilian
constitution (BRASIL, 2020).

1.2. PUBLIC POLICIES AND ISOMORPHISM.

Current accounting is increasingly in tune with the sociological branch without losing
the benchmark of applied social science. The present study was taken in homage to the
Weberian study, in this sense, the researcher's lens should be raised to a broader field, the
environmental field, which takes into account the public sector's own culture in addition to
formal and contractual issues. A more adequate and current way of dealing with public
governance is the choice of using a multitheoretical model according to DiMaggio & Powell,
1983:
“Isomorphism is a process of restriction that forces a unit in a population to
resemble other units that face the same set of environmental conditions. In the
population sphere, such an approach suggests that organizational characteristics are
modified in the direction of increasing compatibility with the characteristics of the
environment; the number of organizations in a population is a function of the ability
to sustain the environment; and the diversity of organizational configurations is
isomorphic to environmental diversity(DiMaggio & Powell, 1983).

The mimetic behavior triggered by isomorphism, the ismomophical picture, is based

on the proposition that organizations not only compete for resources and clientele, but also for
political influence and institutional, social and economic legitimation ”The types of existing
isomorphisms competitive mimetic and normative.
According to Meyer (1979) and Fennell (1980), competitive isomorphism occurs
when competing for an organization for clientele and market influence, mimetic isomorphism
occurs when an organization imitates another because it believes that such behavior is more
convenient and legitimate, normative isomorphism, on the other hand, is part of the
professionalization of a given institution, and is therefore a technical issue. As DiMaggio &
Powell (1983) teach, isomorphism only makes sense if there is a reward in their respective

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field, which is legitimacy. The main legitimacy that a country has is social, since its actions
are of interest to society in general.
So the relation between countries and their tendendy to that mimetic behavior must be
studied by institutional theory of course it’s applied to inter-governmental analysis.

1.4 MAIN OBJECTIVES AND SPECIFIC OBJECTIVES PROPOSITIONS

As a way of structuring the present work, the development of the question is divided
into 3 propositions (P’s), the P1 discuses whether the Pandemics demanded legal or
administrative measures which justified the flexibilization of Brazilian public budged. the P2
deals with the fact of inauguration of new rules for Brazilian accouting public sector due to
pandemics and the P3 Analyzes this work as whole, saying whether the isomorphism took its
place and when.

P1.COVID-19 2020’s Pandemic demanded legal or administrative measures which

justified the flexibilization of public budged.
Due to pandemics Brazilian government declared a state of ‘public calamity’ on 20th
March, which removed its obligation to obbey its deficit targets (expendure limits) for 2020.
Although there is a discussion about the effectiveness of budgetary austerity and its
cost-benefit, it is a fact that countries in general have increased spending to include economic
support to companies so that when the economic activity takes its normal course there is still
production and value generation, as the Ejiogu et al. (2020) academic essay teaches, a
situation in which, even in survival, the public choice is oriented towards the sense that it is
necessary that firms continue to expect improvement. (Heald & Hodges, 2020).

P2. New accounting paradigma were adopted to include COVID-19 costs.

In the current situation, the adoption of new accounting standards aimed at SMEs is
identified with the intention of minimizing the negative effects of accounting bureaucracy.
Ahrens & Ferry, 2021). occasion when covid-19 can be an opportunity to advance agendas
for modernizing legislation due to political costs como Cohen et al., (2021) have identified in
the Portuguese republic.

P3.There are mimetic behavior between Brazil and other Countries due to the COVID-
19 pandemics due to financial help with state-backed funds.
The studies are directed in the sense that governments or entities seek legitimation in
institutions that already exist, and mimetic behavior is studied by the New Institutional
Theory, in times of pandemic they seem to justify existing proposals regarding the study of
isomorphism.(D’Andreamatteo et al., 2019; DiMaggio & Powell, 1983; Dufour et al., 2014;
Mishra, 2021)

2 METHODS
As the nature of research has an applied nature, the objective is descriptive of the events
related to COVID 19 and that study approach is qualitative because the data collected deserve
to be characterized by their richness and fullness, based on the opportunity to explore this
subject in as real a manner as is possible (Saunders et al., 2015).

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 in research involving social sciences the most available source of data is gray documents,
which are generally presented in the form of reports and other items not available in the
publishing market. nowadays they are usually easily accessible through the internet.

although the use of gray literature is not fully noticeable, it has been a constant
feature of applied social sciences, especially in business administration and
accounting sciences, the information available on the form of reports, sector studies
and the evolution of various indexes available on official websites or non –
governmental entities (NGO’s) has been used to support analyzes and academic
works published in scientific journals, conference proceedings or books. likewise,
citations of theses and dissertations are a constant, although these publications are
also considered as part of the gray literature. (Côrtes, 2006)

Gray papers were used as the field of study such as public official reports, reports from
NGO’s and institutions as defined as materials produced by organizations outside of the
traditional commercial or academic including government reports and NGO’s working papers.
and academic papers related to COVID-19 crisis.

3 DATA ANALYSIS

3.1 COVID-19 PANDEMICS AND ITS INFLUENCE IN BRAZILIAN BUDGET

Brazilian government declared a state of ‘public calamity’ on March 20th, which

removed its duty to obey its expendure targets for 2020. even before the COVID-19
pandemic, the Brazilian government was having serious budgetary problems, the deficit
circulated between 8%, between the years 2017 and 2019. So said the report from Association
of Chartered Certified Accountants (ACCA):
The asset side of the Brazilian government’s balance sheet is more encouraging. The
value of its financial assets relative to the value of its financial liabilities is higher
than in many other countries. Meanwhile, Brazil’s endowment of natural resources
is among the most valuable in the world. As a result, the government’s holdings of
mineral and energy resources significantly bolster the total value of its assets.
Therefore, by contrast to the US, UK and Japan, the total value of government assets
in Brazil exceeds the value of liabilities. Nonetheless, excluding the value of non-
financial, non-produced assets, the Brazilian government’s assets stood at just 47%
of GDP in 2019. (ACCA, 2021)

Taking in consideration the COVID-19 pandemics is expected contraction in the

economic health, which means that the Debt-to-GDP ratio is expected to increase from 92%
in 2019 to 110% in 2020, falling to 106% of GDP in 2022.(Metcalfe & Taylor, 2021)
TABLE 1: Scenarios for the Brazilian Government’s fiscal response to the COVID-19 pandemic:
Scenario Size of fiscal response Equivalent to % of 2019 GDP
Lower estimate R$ 317.,9 bn 4.4%
Central estimate R$ 433.3bn 6.0%
Upper estimate R$ 565.0bn 7.9%
Source: (ACCA, 2021)

In the Figure 1 show Projections for the Brazilian government’s net worth as a share of its GDP (excluding non-
produced assets).

Figure 1: net worth as a share of GDP (excluding non-produced assets)

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 Source: (ACCA, 2021)

The Sustainable Public Finances Through Covid-19 championed by World Bank

Group suggests some measures to be tanken by accountants in the public service wich
includes the conception “Consider the classification and recognition of transactions during the
crisis, eg recognising that monies transferred to a struggling business, where the expectation
of repayment is likely to be suspended, are grants rather than loans.”(Metcalfe & Taylor,
2021) in that scenation the public budget should be oriented to improve the economy.
The National Treasury (STN) has a specific mechanism for expenses with COVID 19,
called ‘Monitoring of Federal Spending on Combating COVID 19, although it does not have
its own specific indicators available for research.(STN, 2021) but no specific index was
specified regarding public management, directed to improvement regarding the concomitance
of COVID-19.
Administration, as it is open to the population, frequently (DiMaggio & Powell, 1983)
receives suggestions such as the Diretor of Studies and policy of the State, Institutions and
Democracy of IPEA (Brazilian Institute for Applied Economic Reseach) (DIEST, 2021) that
suggested to the authorities an indicator of classification of advisory information at a
subnational level (eg Nature of interaction, level of resources, composition).
Third world countries such as brazil have a history of financing policies aimed at
'national champions' who develop stratic sectors of the economy, a situation in which there is
little transparency in the way in which values are directed to state-backed loan trough BNDES
for the sectors of the economy (SEBRAE, 2020).
Currently, most of the post-covid budget has been the subject of constant
denunciations by the press.From the municipal indicators of user registration with Primary
Care, the union will transfer the same proportion due to the regulation that provides for the
transfer of federal financial incentives to fund Primary Health Care (MINISTÉRIO DA
SAÚDE, 2021).

3.2. NEW ACCOUTING STANDARDS ADOPTED FOR A MOMENT FO CRISIS

The main recommendation is an accrual accouting, in fact, the budget and the
Accounting should have the same basis for the purpose of comparability. It’s expected the
adoption of the Accrual accounting in Brazilian Public Sector of Accounting which records
the transactions when the taxable event occurs (Lima, 2016).
Different accounting standards will register the same economic events in different
ways. Nowadays, several accounting standards’ philosophies can be hosted under
the same software shell. When the methodological differences are clarified, setting
up different reports under different standards is not a problem (Cohen et al., 2021).

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 Changes are occurring in public accounting due to pandemics including those resulting
from the convergence process of international accounting standards (International Public
Sector Accounting Standards - IPSAS) (CFC, 2016). International standards in public
accounting are based not on cash flow accounting but on accrual accounting but it is not a
case of completely abandoning the issue of cash accounting, as the two accounts complement
each other.
The balance-sheet approach is founded on accrual accounting but even governments
operating on a cash basis can apply the mindset of balance-sheet management to
their decision making. All public sector organisations maintain some form of
accounting data and can consider this information when deciding whether a change
represents value for money and what its implications are for net worth – even where
reliable accrual information does not exist.
To be credible, public sector balance sheets must be properly prepared, audited and
disclosed. Public finance professionals clearly have an important role to play in
preparing the balance sheets. They can also contribute to transparency and
accountability by providing clear, understandable narratives to help non-experts
make decisions at a time when many countries will need to navigate a series of
difficult policy choices.
Public finance professionals around the world must provide critical input to
achieving sustainable public finances, applying a balance-sheet approach to the
management of government decision making. It is time for balance sheet
information to take primacy in informing policymakers on how to achieve an
inclusive and sustainable recovery.

Brazil has found an opportunity to emerge from the crisis with excellent international
accounting standards. In this sense, public hearings were taken on norms such NBC TSP 27 -
Leases, NBC TSP 28 - Information by Segment, NBC TSP 29 - Disclosure of Financial
Information for the General Government Sector and NBC TSP 30 - Social Benefits. The
political will started at the moment when the public budget was opened for financial issues,
but also with the parliamentary will to help with non-financial issues such as the facilitation
and modernization of public and private accounting.

3.3. ISOMORPHISM OR MIMETISM DUE TO PANDEMICS

These results represents qualitative evidence of the influence in addition to verifying the
existing isomorphism in the measures taken in order to provide the institutional legitimacy of
the governments justifying the present study by the importance so that follows the findings of
Ejiogu et al. (2020 and Heald & Hodges (2020) as a clear example of mimetic isomorphism
between countries.
In this sense, the results contribute to reinforce the discussion about the need for public
institutions to structure their contributing to a better quality of public services, and the
finantial help is in fact a service that will lead the reconstruction of economy as Ed Oloro-
Okere said in the ACCA report:
a substantial portion of the collective global response is not just health response
spending, but governments are living to their sovereign responsibility as the ultimate
social insurance scheme to help citizens and businesses to get through the crisis.
Governments are able to offer guarantees, provide equity injections and to agree to
defer tax payments. These are referred to in this report as below-the-line
interventions.(ACCA, 2021)
This mimetic behavior is based on the assumption that countries cannot wait for
companies to close their doors and then later react, but they need companies to survive, to be
alive, so that later they can continue activity. temporarily increasing public spending and
avoiding bankruptcy is desirable in creating an economy from ashes.
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 The economic consequences depend on how much lasting damage is done to the real
economy, particularly ifpremature and haphazard relaxation of lockdown leads to
future waves of infection. There hasbeen much media talk of a trade-off between
public health and economic damage, but further waves of COVID-19 due to public
health laxity would lead to deeper scarring of productivecapacity. For most
economies these will be challenges enough. (Heald & Hodges, 2020)

Each country has specific problems, but in a market society it is essential to have an
economy that survives the catastrophe. Direct aid to individuals and households is also an act
that helps people to directly have a source of immediate cost (it is common sense that aid will
be temporary at a time when the economy is at a standstill). In the majority of cases, OECD
countries have adopted a multi-channelled response by increasing :

expenditures, making commitments to support economic activity and deploying non-

fiscal measures, such as regulation. The responses have been applied to three
groups:
 Businesses and employees
 Households and individuals
 Industries and sectors.

State aid is not limited to the economy, there are also non-economic issues involved,
such as the regulation of teleworking in places where it is not allowed; facilitate services such
as licenses and permits public services remotely (OECD, 2020; SEBRAE, 2020).
An academic work involving the private sector and the public budget is not common,
however, as the work of (Metcalfe & Taylor, 2021) teaches, it remains clear that once the
country's solvency is based on the percentage of public spending (public debt) by the total of
GDP (OECD, 2020).
Well, in an economy based on balance sheets , countries need to be prepared for the
worst on the international stage so public emergency financing for companies, especially
SMEs, becomes a way to survive and have a good economic rating, since a loan will only
impact GDP if it is not paid and the company goes bankrupt (Gomes, 2021).

4. CONCLUSION.

This Analysis has identified Brazilian response to the pandemic in terms of the
budgetary policy, financial help in general (with emphasis on SME’s) and identifying if that
changes either in budget and financial help has an isomorphic accordingly the new
institutional theory.
Due to pandemics Brazilian government declared a state of ‘public calamity’ on 20th
March, which removed its obligation to obbey its deficit targets (expendure limits) for 2020.
There are also public policies in favor of SME and the public health care system which may
save lifes and also the economy.
Mimetic behavior is found between what Brazil has been doing as well as the other
OECD countries present in the Gray Documents analyzed by both the OECD and the ACCA.
It assumes that countries cannot hope to create an economy of ashes and destruction. making
national budgets more flexible is important either to save lives immediately, but forgetting the
economy everything may collapse entire countries. The implementations that Brazil has been
making follow the OECD metric in areas such as Business and employees, households and
individuals, Industries and sectors and Public health.

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 Our response to the case of isomorphism is positive, there are a common sense
between countries in order to flexibilize the public budget in order to help either the health
system as SME’s.
Finally, this research has as main limitations in terms of space and time dimension.
The analysis was limited to information released that deals with the period from the beginning
of the pandemic in 2020 until the submission of this work for analysis, making generalization
or even the final conclusion impossible since the pandemic is ongoing.
As suggestions for future research. In addition, it is suggested to investigate other
countries with explanatory potential for measures related to the Public Budget and efforts to
deal with "embezzlement of public money" and preventive measures against corruption are
areas that study the mimetic behavior between the different measures.
The set of authors of the present work declares that there is no conflict of interest
among the topics covered in this academic work.

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