Haddad Stands Firm on No Election Bid Despite Lula's Praise

Brazilian Finance Minister Fernando Haddad reiterated his decision not to run for office next year, despite encouragement from President Lula. Haddad expressed interest in supporting Lula's 2026 campaign. February is seen as a suitable time for his replacement, amid media speculation about his political future.

Brazilian Finance Minister Fernando Haddad confirmed Thursday that he has no plans to seek public office in the upcoming year, even as President Luiz Inacio Lula da Silva openly respects his choice.

During a press conference, Haddad mentioned he would not completely dismiss the idea of stepping down soon, as he wants to actively engage in Lula's 2026 presidential campaign, aligning with his stated intention to contribute to Lula's ambition for a fourth non-consecutive term. 'I expressed my desire to collaborate with President Lula's campaign, which is incompatible with the position of finance minister,' Haddad stated.

February is being considered as an optimal time for someone new to assume his role. Haddad, previously a mayor of Sao Paulo and a candidate for the state's governorship, has been a focal point of speculation across Brazilian media and political forums as a potential candidate for several offices next year. Earlier, President Lula praised Haddad during a meeting with journalists, saying he possesses a worthwhile biography to make independent decisions about his future. According to Brazilian electoral law, Haddad would need to resign from his current ministerial position by April if he opts to run.

(With inputs from agencies.)