Haddad Prioritizes Campaign Role Over Ministerial Duties

Brazilian Finance Minister Fernando Haddad confirmed he won't run for office next year, focusing instead on supporting President Lula's 2026 campaign. While considering stepping down by February to facilitate a transition, Haddad emphasizes the need for continued fiscal reforms, without specifying adjustments to revenue or spending.

Brazilian Finance Minister Fernando Haddad has declared his intention to avoid pursuing public office in the upcoming year, opting instead to support President Luiz Inacio Lula da Silva's 2026 presidential campaign.

Haddad, amid media speculation, revealed that stepping down in February could pave the way for a successor, aligning his interests with Lula's election aspirations. Despite encouragement from Lula to run, Haddad remained firm on his decision.

Addressing fiscal challenges, Haddad suggested preserving the current budget framework while potentially adopting stricter budget management. He anticipated large-scale tax activities next year, hinting at notable revenue impacts.

(With inputs from agencies.)