Fiscal Follow-Up Report
The Fiscal Follow-Up Report (Relatório de Acompanhamento Fiscal, or RAF, in Portuguese) meets the objectives set out in Federal Senate Resolution No. 42, of 2016. The RAF brings monthly assessments and updates to the base, optimistic and pessimistic scenarios. These scenarios are simulated by the IFI based on assumptions for the budgetary parameters, such as GDP, inflation and interest rates. As a result, the IFI presents trajectories for fiscal indicators such as the primary balance and gross debt. The RAF usually contains Special Topics (Tópicos Especiais, or TEs, in Portuguese), which convey the institution's view of an specific theme, often preceding the publication of a more detailed study, called Special Study (Estudo Especial, or EE, in Portuguese).