Far beyond the current situation or government disputes, Brazil's fiscal challenge is structural — understanding its roots is crucial for addressing the country's future. In this panel, we will discuss the behind-the-scenes of public finance management. After all, how does political dynamics influence fiscal stability? To what extent do political demands in budget construction complicate fiscal adjustments? What role do state governments play? And the new tax reform, does it solve or just mitigate the problem? Don't miss the opportunity to follow an exclusive debate with those who have navigated this challenge from within the public administration.