UNIVERSIDADE FEDERAL DE MINAS GERAIS

FACULDADE DE CINCIAS ECNOMICAS

RELAES ECNOMICAS INTERNACIONAIS

SISTEMA FINANCEIRO E DESENVOLVIMENTO

ANLISE ENTRE SISTEMAS FINANCEIROS BRASIL X SINGAPURA

Lucas Ribeiro Viana

BELO HORIZONTE
2014

ANLISE ENTRE SISTEMAS FINANCEIROS

BRASIL X SINGAPURA
O objetivo deste trabalho analisar e correlacionar os dados
financeiros e econmicos disponibilizados pelo FMI dos pases Brasil e
Singapura sobre a tica das polticas econmicas e financeiras dos
respectivos pases e suas consequncias sobre a macroeconomia
geral.
Outras fontes sero acrescentadas para a complementao do
trabalho.
Consideraes gerais:

Singapura um modelo de desenvolvimento com gesto profissional

e com grande autonomia em relao ao governo, parcerias entre o
setor pblico e privado apresentam uma grande eficincia em
alavancar os investimentos.
Taxas baixas de inflao, desemprego, analfabetismo e criminalidade.
Alto poder aquisitivo da populao de quase cinco milhes de
habitantes e crescimento slido. O pas atrai empresas estrangeiras,
estabelecem projetos e investimentos que juntam poder pblico e
iniciativa privada com eficincia. Este tipo de parceria se espalhou
por diversos setores e atingiu reas estratgicas para que este
pequeno, mas superpovoado pas possa continuar a crescer.
Um dos pontos importantes a confiana entre o governo e as
empresas. A iniciativa privada faz a mquina funcionar e o setor
pblico leva o servio populao.
Apesar de pertencer ao Ministrio das Finanas, tem uma gesto
independente. As decises so tomadas por profissionais
especializados. O principal objetivo obter bons retornos com cada
investimento feito e constantemente h uma prestao contas.
O modelo, apesar de bem especfico, pode ser uma inspirao para o
Brasil se adaptado a nosso ambiente, a polticas disciplinadas,
fiscalizao e excelncia.
-

Abaixo, alguns dados, retirados do Fundo Monetrio Internacional,

relaciona os dados dos sistemas financeiros dos dois pases:

Capital de Ativos - Percentual:

Como Ativo financeiros denominamos aes, contratos futuros,
contrato a termo, moedas/cmbio, ttulos pblicos e privados.

Brasil

Aps 2008 notamos um crescimento como nunca antes visto, no capital de

ativos percentuais, chegando a 11.46 em 2009, com uma tendncia de
queda, a partir de ento, chegando a 10.33 pontos em 2010, com uma

pequena recuperao em 2011 chegando a 10.53, com o menor ponto nos

ltimos anos, em 2011 (10.08) e finalizando 2012 em 10.17 pontos
percentuais.

Singapura

Apresenta uma alta variao no crescimento de 2008 com 7,20 pontos

percentuais, saltando para 9.17, em 2009, mantm o ritmo com uma
pequena queda at 2011 onde ocorre uma volatilidade (Incio com 8.93
pontos, queda para 8.21 e finaliza com uma queda, chegando a 8.32
pontos), h uma tendncia de alta a partir de ento, chegando a seu topo
em 2012 com 8.92 Pontos que quebra numa queda em 2013, finalizando
com 8.22 pontos, desde ento o sistema de capital de ativos est numa
tendncia de alta, em 2014 com 8.50 pontos percentuais

Capital Regulatrio ponderado pelo risco

X Capital Regulatrio ponderado pelo
risco nvel 1
Brasil

A partir de 2008 h uma tendncia de alta iniciada com 12.08 no capital de

nvel 1 e 15.53 no Capital e chegando ao pice em 2009 com 15.27 no
capital de nvel 1 e 18.65 no Capital , desde ento no Brasil a tendncia de

queda se mantm, finalizando 2013 com 12.18 no Capital de nvel 1 e

16.41 no Capital Regulatrio.

Singapura

A partir de 2008 h uma tendncia de alta iniciada com 11.48 no capital de

nvel 1 e 14.66 no Capital e chegando ao pice em 2010 com 15.50 no
capital de nvel 1 e 18.58 no Capital, em seguida houve uma queda com o
ponto mais baixo em 2012 com 13.45 para o Capital Nvel 1 e 15.85 para o
Capital, em 2012 h uma alta com 14.92 para o Capital Nvel 1 e 18.06para

o Capital, desde ento em Singapura a tendncia de queda se mantm,

finalizando 2013 com 13.97 no Capital de nvel 1 e 16.79 no Capital
Regulatrio.

Retorno Sobre Ativos Vs Retorno sobre

Patrimnio Lquido Percentual
Brasil

Aps 2008 h uma tendncia de queda no Retorno Sobre Ativos, iniciando

em 2.73 e finalizando 2013 com 1.38 percentual. Tambm h uma queda no
retorno sobre o Patrimnio Lquido, que se inicia em 2008 com 25.55, tem
seu ponto mais baixo em 2009 com 14.16, se recuperando levemente em
2011 at 17.43 e tendendo novamente queda, finalizando 2013com
13.49.

Singapura

Aps 2008 h uma tendncia de alta no Retorno Sobre Ativos, iniciando em

0.86 e finalizando 2009 com 1.63 percentual, desde ento h pequenas
oscilaes, que teve seu ponto mais alto de 2014 com 1.44. Tambm h
uma alta (apesar de voltil) no retorno sobre o Patrimnio Lquido, que se
inicia em 2008 com 11.72, tem seu ponto mais alto em 2012 com 18.35, e
finalizando 2014 com uma pequena tendncia de queda em relao 2012
chegando a 15.91

Emprstimos improdutivos Bruto VS

Emprstimos Improdutivos lquido
Percentual
Brasil

A partir de 2008 h uma queda no percentual de emprstimos improdutivos

lquido que se inicia em -9.35 e finaliza com uma reverso tendendo alta
em 2009 com -12.73, essa tendncia de alta continua at o fim de 2012
finalizando em -9.84. A partir de 2008 h uma pequena tendncia de alta
no percentual de emprstimos improdutivos Bruto que se inicia em 3.16
com sua maior alta em 2009 com 4.46, essa relativa estabilidade continua
at o fim de 2012 finalizando em 3.62.

Singapura -

A partir de 2008 h uma alta no percentual de emprstimos improdutivos

lquido que se inicia em 7.17 e finaliza com uma reverso tendendo baixa
em 2009 com 10.33, essa tendncia de baixa continua at o ano de 2014
finalizando em 4.47. A partir de 2008 h uma pequena tendncia de alta no
percentual de emprstimos improdutivos Bruto que se inicia em 1.43 com
sua maior alta em 2009 com 2.08, em seguida uma tendncia de queda que
consta em 0.78 em 2014.

Relatrio Doing Business - 2014

O Brasil ficou na 116 posio no relatrio Doing Business 2014, do
Banco Mundial, que mede a facilidade para se fazer negcios em 189
pases do globo.
Singapura, por ser um paraso fiscal, permite a flexibilizao cambial,
permitindo assim a escolha de moeda por parte dos poupadores e
investidores. No s isso como tambm possui poucos honorrios em
seus servios bancrios.
116 a posio do Brasil no ranking da pesquisa Doing Business,
que mede a facilidade de se fazer negcios em um pas. Singapura
ficou no 1 lugar.
107,5 dias o tanto que demora para se comear um negcio no
Brasil, no pas asitico, dois dias e meio so suficientes.
4,6% da renda per capita quanto custa para comear um negcio
no Brasil. Em Singapura, o custo cai para 0,6% da renda per capita.
2600 horas o tempo que seria gasto para cuidar dos impostos de
uma empresa do Brasil se houvesse apenas uma pessoa encarregada
disso. Em Singapura, seriam necessrias apenas 82 horas.
5,3 a nota de 0 a 10 do Brasil em proteo ao investidor. Singapura
ficou com 9,3.
3 a nota de 0 a 10 do Brasil em proteo ao credor. Singapura ficou
com a nota mxima.
US$ 2.115,00 o custo de exportao por continer no Brasil, no pas
asitico o custo cai para US$ 460,00 por continer.
US$ 2.275,00 quanto se gasta na importao de cada continer no
Brasil. Em Singapura, valor cai para US$ 440,00
400 o nmero de dias que leva para se obter uma licena de
construo no Brasil. No pas asitico, so apenas 26 dias.

731 dias o tempo que leva para firmar um contrato no Brasil. Em

Singapura, so 150 dias.
44 o nmero de procedimentos necessrios para firmar um contrato
no Brasil. Em Singapura, so 21 procedimentos.

Correlao entre liberalizao no sistema

financeiro, sistema financeiro governamental
e indicadores macroeconmicos reais:
Setor Financeiro Brasileiro:

Financial Sector Indicators: Brazil

Unit Of Measure

National Currency, Millions

Annual

Frequency
Time

2010

2011

Quarterly
2012

2013

2013 Q3

2013 Q4

2014 Q1

Economic Concept
Central Bank Assets
Total

1,233,735.1 1,472,286.4 1,789,148.7 1,884,268.6 1,826,200.0 1,884,268.6

1,932,233.9

Claims on:
Other Depository Corporations
General Government
Other Residents

39,276.0

48,472.0

111,550.0

77,948.0

61,166.0

77,948.0

77,848.0

703,177.0

754,546.0

910,223.0

953,069.0

925,370.0

953,069.0

1,014,894.0

of which, Other Financial

Corporations

Other

491,282.1

669,268.4

767,375.7

853,251.6

839,664.0

853,251.6

839,491.9

1,233,735.1 1,472,286.4 1,789,148.7 1,884,268.6 1,826,200.0 1,884,268.6

1,932,233.9

Nonresidents
Central Bank Liabilities
Total
Monetary Base

530,561.0

587,671.0

508,029.5

574,550.4

539,429.7

574,550.4

573,520.8

Currency in Circulation

151,145.0

162,770.0

187,435.0

204,052.0

175,858.0

204,052.0

181,862.0

Other Depository Corporations

379,416.0

424,901.0

320,025.0

369,043.0

360,413.0

369,043.0

390,140.0

569.5

1,455.4

3,158.7

1,455.4

1,518.8

Other Depository Corporations

266,673.4

337,114.9

585,673.3

556,997.6

691,675.8

556,997.6

680,391.8

General Government

410,491.0

578,160.0

633,508.0

687,053.0

522,050.0

687,053.0

596,094.0

22,558.6

14,145.1

11,119.2

12,064.0

11,860.5

12,064.0

12,129.4

4.0

7.0

14.0

26.0

43.0

26.0

31.0

22,554.6

14,138.1

11,105.2

12,038.0

11,817.5

12,038.0

12,098.4

16,636.1

15,504.8

10,450.1

18,780.1

23,499.4

18,780.1

22,139.0

-32,789.0

-78,951.0

12,239.0

9,538.0

9,008.0

9,538.0

21,270.0

Other Residents
Other Liabilities to:

Other Residents
of which, Other Financial
Corporations
Other
Nonresidents
Shares and Other Equity

Unclassified assets and

Liabilities (net)

19,603.9

18,641.6

28,129.6

25,285.5

28,676.7

25,285.5

26,688.9

8,436,115.9 9,126,435.3 9,030,473.9 9,126,435.3

9,368,741.9

Other Depository Corporations: Assets

Total

6,217,065.8 7,334,562.1

Claims on:
Central Bank

907,078.7

1,049,738.1

Other Depository Corporations

1,695,168.2 1,945,718.3 2,173,439.2 2,321,362.0 2,325,050.3 2,321,362.0

2,412,149.8

General Government

1,360,279.7 1,555,720.0 1,731,738.1 1,779,137.3 1,692,502.6 1,779,137.3

1,684,437.5

Other Residents

2,379,397.7 2,923,816.0 3,454,820.7 3,922,941.8 3,792,997.2 3,922,941.8

4,014,517.1

of which, Other Financial

Corporations
Other
Nonresidents

672,941.5

294,183.7

778,978.3

462,244.4

2,085,214.0 2,581,104.9 3,071,144.3 3,491,306.7 3,350,154.4 3,491,306.7

3,552,272.7

130,329.5

383,676.4

907,078.7 1,038,526.8

431,635.1

109,278.7

342,711.0

916,757.7

159,360.2

431,635.1

195,915.6

442,842.8

181,397.1

195,915.6

207,899.5

8,436,115.9 9,126,435.3 9,030,473.9 9,126,435.3

9,368,741.9

Other Depository Corporations:

Liabilities
Total

6,217,065.8 7,334,562.1

Liabilities to:
Central Bank
Other Depository Corporations
General Government
Other Residents
of which, Other Financial
Corporations
Other

6.0

13,220.6

61,850.0

5.4

1,521,417.5 1,764,720.0 2,022,440.0 2,265,368.1

412,483.0

699,497.5
4,415,690.5

346,532.9

643,294.2

2,303,065.5

643,294.2

581,236.8

605,537.6

2,962,138.8 3,518,825.4 3,933,763.0 4,288,033.7 4,188,916.9 4,288,033.7

503,699.0

500,818.5

5.4

2,236,114.3 2,265,368.1

430,625.3

681,377.4
414,812.9

430,625.3

429,645.7

2,458,439.9 2,937,588.6 3,587,230.0 3,857,408.4 3,774,104.0 3,857,408.4

3,986,044.8

Nonresidents

205,898.9

295,633.0

388,785.6

392,193.7

396,644.9

392,193.7

394,456.3

Shares and other equity

645,969.2

710,137.3

781,128.6

782,043.5

758,520.7

782,043.5

821,917.1

Unclassified assets and

Liabilities (net)

469,152.4

531,207.1

642,611.1

755,496.7

768,899.8

755,496.7

734,115.0

1,108,667.0 1,172,059.2 1,241,036.4 1,270,943.2 1,247,883.9 1,270,943.2

1,272,287.2

Other Financial Corporations: Assets

Total
Claims on:
Central bank

89.6

102.1

705.9

1,592.8

3,259.5

1,592.8

1,656.3

Other Depository Corporations

557,749.6

638,996.0

667,621.1

724,793.3

703,065.1

724,793.3

739,522.2

General Government

109,040.9

106,185.9

120,928.2

86,260.9

93,366.2

86,260.9

90,622.2

Other Residents

440,647.2

425,081.2

448,831.8

453,475.1

444,237.9

453,475.1

436,251.8

of which, Other Financial

Corporations

107,272.8

117,013.2

126,557.8

135,377.9

130,426.1

135,377.9

135,248.5

Other

333,374.4

308,068.0

322,274.1

318,097.2

313,811.8

318,097.2

301,003.3

1,139.7

1,694.0

2,949.2

4,821.2

3,955.2

4,821.2

4,234.7

1,108,667.0 1,172,059.2 1,241,036.4 1,270,943.2 1,247,883.9 1,270,943.2

1,272,287.2

Nonresidents
Other Financial Corporations: Liabilities
Total
Liabilities to:
Central Bank
Other Depository Corporations
General Government
Other Residents
of which, Other Financial
Corporations

235,792.4

267,523.2

285,426.3

325,151.8

310,153.3

325,151.8

333,789.3

796.8

576.2

534.5

469.0

432.4

469.0

472.1

451,111.3

492,956.2

557,530.6

24,024.0

581,917.4

24,024.0

26,459.3

2,588.8

2,989.4

4,238.4

6,130.7

5,066.7

6,130.7

7,310.1

Other

448,522.5

Nonresidents

489,966.8

553,292.2

17,893.3

576,850.8

17,893.3

19,149.2

898.3

1,711.0

1,717.8

1,278.5

1,198.4

1,278.5

1,187.1

Shares and Other Equity

379,507.5

370,666.6

360,392.6

873,848.3

316,889.9

873,848.3

864,675.8

Unclassified Assets and

Liabilities (net)

40,560.6

38,626.0

35,434.5

46,171.6

37,292.5

46,171.6

45,703.6

(-) Indicates that a figure is zero

(...) Indicates a lack of statistical data that can be reported or calculated from underlying
observations
Data extracted on: 11/27/2014 2:06:08 AM

Setor Financeiro Singapura:

Financial Sector Indicators: Singapore
Unit Of Measure

National Currency, Millions

Annual

Frequency
Time

2010

2011

Quarterly
2012

2013

2013 Q3

2013 Q4

2014 Q1

2014 Q2

Economic Concept
Central Bank Assets
Total

296,857.3 315,344.5 323,874.6 351,735.3 343,463.8 351,735.3 350,272.6 354,126.7

Claims on:
General Government
Nonresidents

7,480.7

6,813.7

7,006.1

6,998.0

6,999.3

6,998.0

6,996.7

7,503.2

289,376.6 308,530.8 316,868.5 344,737.3 336,464.5 344,737.3 343,275.9 346,623.5

Central Bank Liabilities

Total
Monetary Base
Currency in Circulation

296,857.3 315,344.5 323,874.6 351,735.3 343,463.8 351,735.3 350,272.6 354,126.7

40,529.7

45,431.8

48,708.7

63,993.6

59,864.8

63,993.6

64,684.1

61,249.4

22,299.5

24,690.3

26,361.3

28,851.6

28,210.0

28,851.6

29,907.8

30,226.6

Other Liabilities to:

General Government
Nonresidents
Unclassified assets and
Liabilities (net)

130,490.2
4,245.9

144,112.9 158,185.0 141,508.4 142,952.6 141,508.4

4,895.9

121,591.5 120,903.9

4,592.1

6,722.4

6,820.2

6,722.4

114,157.2 121,067.3
6,737.4

6,732.0

112,388.8 139,510.9 133,826.2 139,510.9 164,693.9 165,078.0

Other Depository Corporations: Assets

Total

658,942.0 749,927.0 816,693.0 900,138.0 869,710.0 900,138.0 908,524.0 937,307.0

Claims on:
Central Bank
General Government

18,095.0

20,606.0

22,255.0

34,910.0

31,418.0

34,910.0

34,259.0

30,499.0

84,853.0

91,414.0

98,415.0

94,987.0

98,118.0

94,987.0

92,680.0

95,727.0

Other Residents

310,168.0 367,895.0 416,613.0 480,720.0 460,977.0 480,720.0 481,992.0 494,514.0

Nonresidents

245,826.0 270,012.0 279,410.0 289,521.0 279,197.0 289,521.0 299,593.0 316,567.0

Other Depository Corporations:

Liabilities
Total

658,942.0 749,927.0 816,694.0 900,138.0 869,710.0 900,138.0 908,525.0 937,308.0

Liabilities to:
General Government
Other Residents

11,698.0

16,130.0

19,937.0

21,272.0

20,563.0

21,272.0

27,856.0

21,149.0

380,797.0 418,668.0 449,031.0 467,063.0 467,592.0 467,063.0 472,369.0 464,894.0

Nonresidents

223,784.0 275,641.0 290,581.0 339,522.0 313,103.0 339,522.0 348,268.0 367,491.0

Unclassified assets and

Liabilities (net)

42,663.0

39,488.0

57,145.0

72,281.0

68,452.0

72,281.0

60,032.0

83,774.0

10,183.6

10,924.7

13,473.0

13,376.6

13,505.2

13,376.6

13,451.7

13,710.4

Central bank

2,090.6

1,422.4

2,138.7

1,708.4

1,863.3

1,708.4

1,739.0

1,719.9

Other Residents

8,026.2

9,445.1

11,303.9

11,640.8

11,612.3

11,640.8

11,684.6

11,961.9

66.8

57.2

30.4

27.4

29.6

27.4

28.1

28.6

10,183.6

10,924.8

13,472.9

13,376.5

13,505.1

13,376.5

13,451.3

13,710.4

13.1

13.6

14.6

34.7

14.8

34.7

34.7

53.1

Shares and Other Equity

1,926.2

1,999.2

2,104.7

2,109.6

2,094.1

2,109.6

2,132.6

2,111.0

Unclassified Assets and

Liabilities (net)

8,244.3

8,912.0

11,353.6

11,232.2

11,396.2

11,232.2

11,284.0

11,546.3

Other Financial Corporations: Assets

Total
Claims on:

Nonresidents
Other Financial Corporations: Liabilities
Total
Liabilities to:
Nonresidents

(-) Indicates that a figure is zero

(...) Indicates a lack of statistical data that can be reported or calculated from underlying
observations
Data extracted on: 11/27/2014 2:25:12 AM

Setor Financeiro
Governamental
Brasil:

Central Government,
Consolidated (accrual basis)
Fiscal Year Ends December 31
Unit Of Measure

Government Finance Sector Indicators: Brazil

National Currency, Millions
Annual

Frequency
Reference Period

2009

2010

2011

Quarterly
2012

2013

2012 Q4

2013 Q1

Key Fiscal Transaction Components

Revenue
Taxes
Taxes on income, profits, and
capital gains
Taxes on payroll and workforce
Taxes on property
Taxes on goods and services

737,084.3

917,093.0

987,061.2

1,071,401.6

1,223,426.0

300,328.1

284,01

465,873.2

542,255.2

642,010.4

664,738.7

751,243.8

172,603.4

185,72

223,845.9

241,042.7

294,761.4

303,194.9

336,843.0

77,909.8

93,15

41,312.1

51,843.6

55,217.6

63,611.1

16,838.7

16,532.0

4,77

473.0

522.5

603.4

689.4

30,347.7

185.6

6,89

151,958.0

186,545.2

211,423.3

222,515.6

320,405.1

58,531.8

70,94

Taxes on international trade and

transactions

16,034.0

21,137.0

26,723.5

31,158.9

37,138.7

8,482.8

8,18

Other taxes

32,250.2

41,164.2

53,281.2

43,568.9

9,670.6

10,961.5

1,77

Social contributions

182,008.4

211,968.4

245,891.9

275,764.7

321,888.5

83,495.5

69,31

Grants
Other revenue
Expenditure
Expense

413.9

89,202.7

162,869.5

99,158.8

130,898.2

149,879.8

44,229.1

28,88

848,838.3

979,797.9

1,094,042.6

1,157,838.7

1,362,803.6

316,870.0

319,27

814,824.4

932,832.0

1,041,539.3

1,098,592.3

1,299,754.3

302,682.1

302,46

Compensation of Employees

151,652.8

166,486.4

179,277.0

186,097.5

202,744.0

50,222.6

46,27

Use of goods and services

105,939.7

124,099.4

135,065.4

156,949.8

173,158.2

45,996.1

36,98

Interest

152,472.0

142,203.2

201,057.5

175,718.4

262,989.5

50,467.0

66,47

Subsidies

4,682.8

50,719.0

10,517.4

11,005.6

9,458.9

2,511.6

2,91

Grants

127,683.8

140,678.3

172,483.3

181,376.8

205,456.5

50,666.7

51,88

Social benefits

271,213.8

307,403.7

341,003.0

385,127.2

435,214.2

102,135.0

97,36

Other expense

1,179.5

1,242.0

2,135.7

2,316.9

10,733.1

683.1

57

34,013.9

46,966.0

52,503.2

59,246.5

63,049.3

14,187.9

16,80

-77,740.1

-15,738.9

-54,478.1

-27,190.6

-76,328.3

-2,354.0

-18,45

...

...

148,515.1

...

186,661.2

...

48,01

-111,753.9

-62,704.9

-106,981.4

-86,437.1

-139,377.6

-16,541.9

-35,26

971,905.8

923,698.8

1,125,250.0

1,437,119.2

1,531,442.8

1,437,119.2

1,471,88

1,943,630.1

1,968,217.0

2,187,058.6

2,498,977.2

2,621,836.1

2,498,977.2

2,573,91

Net acquisition of nonfinancial assets

Gross operating balance
Primary operating balance
Net lending(+)/borrowing(-) balance
Key Fiscal Balance Sheet Components
Financial assets
Liabilities by instrument:
Special Drawing Rights (SDRs)
Currency and deposits

1,828,745.3

1,861,721.3

2,089,984.2

2,396,025.4

2,519,389.2

2,396,025.4

2,473,60

114,884.8

106,495.7

97,074.4

102,951.8

102,446.8

102,951.8

100,30

Equity and investment fund

shares

Insurance, pension, and

standardized guarantee
schemes

Financial derivatives and

employee stock options

Debt securities
Loans

Other accounts payable

Net financial worth

-971,724.2 -1,044,518.1 -1,061,808.6 -1,061,858.0 -1,090,393.3 -1,061,858.0

Net debt (+)

Gross debt (at nominal value)

-1,102,03

971,724.2

1,044,518.1

1,061,808.6

1,061,858.0

1,090,393.3

1,061,858.0

1,102,03

1,943,630.1

1,968,217.0

2,187,058.6

2,498,977.2

2,621,836.1

2,498,977.2

2,573,91

Source: International Financial Statistics, Government Finance Statistics Yearbook, and EUROSTAT
(-) Indicates that a figure is zero
(...) Indicates a lack of statistical data that can be reported or calculated from underlying observations
Data extracted on:11/27/2014 3:39:02 PM

Singapura:

Central Government,
Budgetary (cash basis) Fiscal
Year Begins April 1
Unit Of Measure

Government Finance Sector Indicators: Singapore

National Currency, Millions
Annual

Frequency
Reference Period

2009

2010

2011

Quarterly
2012

2013

2012 Q4

2013 Q1

2013 Q2

2013 Q

Key Fiscal Transaction

Components
Revenue

49,245.9

68,902.9

66,767.1

80,365.8 67,602.9

20,546.0

20,777.6

8,040.0

8,348.2

8,330.6

8,135.8
49,250.3

20,797.5 16,941

...

...

...

...

...

12,381.0

18,718.5

10,417.1

46,259.7 52,163.4

11,389.7

18,111.8

Other revenue
Other revenue: property
income
Expenditure

...

50,453.3

46,856.2

53,214.8

49,668.1

...

...

...

...

...

...

...

...

...

4,288.0

2,723.3

610.1

4,685.7

...

...

...

...

-4,240.3

18,449.6

19,910.9

31,115.5 24,155.7

8,165.0

2,059.1

10,380.4

Direct taxes

19,158.0

21,443.8

24,478.0

26,171.5

...

...

...

...

Indirect taxes

17,418.0

20,358.1

21,595.2

23,938.7

...

...

...

...

Capital taxes

8.0

5.2

2.9

8.2

...

...

...

...

Expense
Net acquisition of nonfinancial
assets
Net acquisition of nonfinancial
assets: fixed assets
Net lending(+)/borrowing(-) balance

9,596.6 12,039

-3,753

8,654

Memorandum items:

Key Fiscal Balance Sheet

Components
Liabilities by instrument:

300,468.4 331,163.0 367,172.3 395,466.3

Special Drawing Rights

(SDRs)
Gross debt (at face value)

... 384,997.6 395,466.3 392,595.2

...

...

...

...

...

300,390.0 331,720.6 368,181.5

...

...

...

...

...

Source: International Financial Statistics, Government Finance Statistics Yearbook,

and EUROSTAT
(-) Indicates that a figure is zero
(...) Indicates a lack of statistical data that can be reported or calculated from
underlying observations
Data extracted on:11/27/2014 3:43:38 PM

Indicadores reais da Economia:

Brasil:
Real Sector Indicators: Brazil
Annual

Frequency
Time 2009
Economic Concept

2010

2011

Quarterly
2012

2013

2012 Q4 2013 Q1 2013 Q2 2013 Q3 2013 Q4 2014

Unit Of Measure

Produto Interno Bruto

Nominal
PIB Deflator

Index, 2010=100

Produto Interno Bruto Index, 2010=100,

(Volume)
Seasonally Adjusted
Despesa de
consume das
famlias, e
empresas
autnomas

Index, 2010=100,
Seasonally Adjusted

92.4 100.0 107.0

...

177.7

175.8

181.2

181.1

192.6

93.0 100.0 102.7 103.8 106.4

...

104.7

104.9

107.1

106.5

107.0

93.5 100.0 104.1 107.4 110.2

108.8

109.1

109.6

110.5

111.4

Consumo do
Governo

Index, 2010=100,
Seasonally Adjusted

95.9 100.0 101.9 105.3 107.4

106.3

105.8

107.2

107.9

108.7

Formao bruta
de capital fixo

Index, 2010=100,
Seasonally Adjusted

82.4 100.0 104.7 100.5 105.7

100.4

103.9

108.3

106.4

104.4

Exportaes de
Bens e Sevios

Index, 2010=100,
Seasonally Adjusted

89.7 100.0 104.5 105.0 107.6

105.8

103.8

108.1

107.0

111.2

Importaes de
Bens e servios
(-)

Index, 2010=100,
Seasonally Adjusted

73.6 100.0 109.7 110.0 119.1

113.1

118.6

120.2

119.5

118.6

(-) Indicates that a figure is zero

(...) Indicates a lack of statistical data that can be reported or calculated
from underlying observations
Data extracted on: 11/27/2014 2:15:22 AM

Singapura:

Real Sector Indicators: Singapore

Annual

Frequency
Economic Concept

Time
Unit Of Measure

Gross Domestic
Product (Nominal)

National Currency,
Millions

2006

2007

2008

2009

2010

2011

2012

234,835.0 271,249.8 271,980.4 279,858.0 322,361.1 344,712.4 358,542.6

114,518.5 123,959.1 133,159.2

2013
372,813.9

Household
National Currency,
Consumption
Millions
Expenditure,
including NPISHs

87,070.5

96,480.7 104,602.0 104,883.8

138,313.7

Government
Consumption
Expenditure

National Currency,
Millions

24,184.5

25,799.8

28,689.2

28,791.1

32,838.0

33,563.2

33,632.4

37,996.2

Gross Fixed
Capital
Formation

National Currency,
Millions

54,154.4

66,405.7

77,072.7

81,917.2

84,224.8

87,828.6

96,329.4

96,570.4

Change in
Inventories

National Currency,
Millions

-1,731.5

-3,692.6

5,712.2

-4,492.8

5,616.4

6,225.2

12,565.5

11,741.1

Exports of Goods National Currency,

and Services
Millions

540,363.6 582,488.0 626,286.6 536,992.0 642,333.5 690,065.7 699,433.1

710,292.7

Imports of Goods National Currency,

and Services (-) Millions

470,266.7 498,870.5 569,493.4 471,142.5 557,170.1 599,036.3 619,007.9

624,493.3

GDP Deflator

Index, 2010=100

92.7

98.1

96.6

100.0

100.0

100.8

102.3

102.4

Gross Domestic
Product (Volume)

Index, 2010=100

78.6

85.8

87.3

86.8

100.0

106.1

108.7

112.9

Population

Number of Persons,
Millions

4.6

4.7

4.8

5.0

5.1

5.2

5.3

5.4

(-) Indicates that a figure is zero

(...) Indicates a lack of statistical data that can be reported or calculated from underlying observations
Data extracted on: 11/27/2014 2:32:56 AM

Atravs da correlao dos dados conclui-se que no Brasil h uma deficincia

no ambiente institucional, ambiente de negcios, estabilidade financeira,
servios bancrios, mercado financeiro e acesso da populao e empresas
ao sistema financeiro.
A falta de liberdade econmica (medidas intervencionistas defasadas, tanto
nas relaes privadas quanto em relao economia nacional e
internacional, por exemplo) gera diversos problemas estruturais e sociais, e
acabam colocando o Brasil com um IDH abaixo de Azerbaijo (Fonte:
Relatrio 2013 - ndice de Desenvolvimento Humano).
Singapura um caso emblemtico. Apesar de suas restritas liberdades civis,
o comrcio tornou o minsculo pas (maior apenas do que cidades-Estado
como Mnaco ou o Vaticano) absurdamente rico. A ditadura, j nos anos 70,
conseguia ter um IDH (ndice de Desenvolvimento Humano) empatado ao
Estado de Bem-Estar sueco .
A livre concorrncia baixa preos e aumenta a qualidade de produtos e
servios, investindo principalmente na qualificao de sua mo de obra,
logo, valorizando o trabalhador. Quanto mais valorizado o trabalhador,
maior o retorno financeiro deste e mais capacidade de consumo (poder
aquisitivo), logo, cresce a economia e inicia-se um ciclo positivo com mais
investimento, mais valorizao, mais poder aquisitivo, mais crescimento
econmico e assim por diante.
Fica-se com um argumento para explicar como enriquecer um pas sem
gastos elevados e, com isso, reduzir a criminalidade e melhorar
simplesmente todos os servios que a populao pode usufruir: com
comrcio, com um planejamento governamental calcado no livre mercado, e
no na extrema regulao, na planificao econmica e no inchao da
mquina pblica. Simplesmente impossvel melhorar sobretudo a vida dos
pobres sem comrcio e liberdade financeira aliado a um governo eficiente
para garantir a credibilidade das instituies.