Dívida pública, poupan？a em conta corrente do governo e superávit primário: uma análise de sustentabilidade

on this paper, we propose a change in the primary surplus' target by the government current account saving. that concept excludes public investment from primary surplus. however, of that change has raised a question about if government current account saving represents a sustainable fiscal policy. thus, this paper analyses if the change in the primary surplus' target by the government current account saving implies a meaning modification on the debt-to-gdp ratio path. the empirical analysis, which is based on brazilian monthly data for the period 1999-2005, suggests that the change in fiscal target does not mean a lack of sustain-ability.