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Brazil's Haddad vows to 'restore' public accounts in first speech as finance minister

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Brazil's new Finance Minister Fernando Haddad said on Monday he would propose a new fiscal anchor in the first half of this year as the administration of leftist President Luiz Inacio Lula da Silva works to 'restore' public accounts.

Brazil's former President and presidential candidate Luiz Inacio Lula da Silva and Sao Paulo Governor candidate Fernando Haddad react at an election night gathering on the day of the Brazilian presidential election run-off, in Sao Paulo, Brazil, October 30, 2022. REUTERS/Mariana Greif/File Photo

A former mayor of Sao Paulo, Haddad took office with the challenge of presenting a credible fiscal framework after Congress passed a package increasing Brazil's spending cap to ramp up social expenditures and meet Lula's campaign promises. He added he would work with "full emphasis" on the recovery of public accounts while fighting inflation, promising to send to Congress the proposal for a new fiscal anchor in the first half of the year seeking to ensure public debt sustainability.Prior to taking office, Haddad had stated that the measure - which has an annual impact of 52.9 billion reais - would not be extended.

 

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He was an incompetent as Education's Minister, and as Sao Paulo's city Major. There is too many razons to believe he will fail again, as an incompetent he is.

RESTORE= SPEND PEOPLE´S MONEY BrazilWasStolem

Vagabundo LulaVergonhaNacional SocialismoEsMiseria DisgracaNacional

The Fascist being gone is good. Let’s hope Lula is different then he was.

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