Brazil's Haddad reaffirms he will not run for public office next year

BRASILIA, Dec 18 - Brazilian Finance Minister Fernando Haddad reaffirmed on Thursday that he has no intention of running for public office next year, adding that President Luiz Inacio Lula ‍da ​Silva said he would respect that decision.

Haddad told a ‍press conference he would not, however, rule out stepping down in the near future, noting his desire ​to ​participate in Lula's presidential campaign in 2026 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," he said.

He signaled February would be the ideal time for a potential replacement ​to take over.

Haddad, a former Sao ⁠Paulo mayor and candidate for Sao Paulo state governor, has been a subject of speculation in Brazilian media and political circles as a possible candidate next year for a variety of offices.

Earlier on Thursday, Lula ​told journalists he would like to see Haddad running for office next year, praising the minister for having "a ‌biography to decide what he wants ​to do."

If the minister decides to run, he would have to leave the finance ministry by April, according to Brazilian electoral law.

Haddad said that, regardless of who wins next year's elections, fiscal challenges will remain and require further reforms, without specifying whether those reforms should focus on boosting revenue or cutting spending.

Haddad added that he personally would prefer to keep the ‍current fiscal framework, which combines primary budget targets with spending growth limits, while allowing ​for tighter budget management if desired.

Regarding potential sources of additional revenue, Haddad said the Lula administration always ​develops projects that may or may not be funded, depending ‌on budget dynamics.

He also said the Finance Ministry expects large-scale tax transactions could happen next year, positively affecting revenues. REUTERS