The Economist Persio Aridaa name coveted by PT members and the market to compose the future government, would not be able to contain any populist temptations of the elected president, Luiz Inácio Lula da Silva, and his probable finance minister, Fernando Haddad🇧🇷
At least, that is the opinion of most readers of the Money Times who participated in the last poll. Of the 241 participants, 61% stated that Arida would not do a good one-on-one with Haddad in the economic area of Lula’s third term. Only 39% said the pair would be positive.
In addition, 73.5% declared that Arida, one of the fathers of the Real Plan, would not be able to contain a possible fiscal populism by Lula and Haddad, which would put public accounts at risk – something that is already worrying the market.
Pérsio Arida has “no intention” of going to Brasilia
Last week, the rumor gained strength that the transition team considers that Arida would be the ideal name to occupy the Ministry of Planning, in order to counterbalance Haddad in Finance and make the former mayor of São Paulo more palatable to investors.
Last Friday (25), however, Arida called the idea that she will be part of Lula’s government a “daydream”. In an interview with Folha de S.Paulo, the economist stated that “this supposed invitation is nothing more than a daydream of some news agencies. It was widespread and the chimera ended up being taken as if it were true. The fact is that I did not receive any invitation, or any poll, to be Minister of Planning or Finance.”
Furthermore, even if the invitation is made, it is unlikely that Lula will take him to the government. “For personal reasons, for my moment in life, I have no intention of holding office in Brasília,” he told Folha.
Haddad is disapproved by investors
the former minister Fernando Haddad This Friday (25th) he was at the Febraban event to speak on behalf of president-elect Lula about the next government. So far one of the favorite names to assume the Ministry of Finance in 2023, the former mayor saw his speeches at the event have a bad effect on the market and, as a result, he may have lost ground in this dispute.
Investors reacted badly to Mr. Fernando Haddadand the market saw the dollar and future interest rates skyrocket and reach maximum levels due to the lack of details on the fiscal issue and what was seen as a lack of alignment with the market.
The former minister did not indicate what the tax treatment will be in the new government nor how he intends to equalize campaign promises, such as the increase in the Bolsa Familia to R$600. At the same time, he again criticized the ceiling, saying that the rule did not inhibit the worsening quality of public spending.
In the course of the day, after Haddad’s speech at Febraban and with the names of economists cited only as a possible second echelon not pleasing the market, another name of the Minister of Finance was aired.
The entrepreneur Joshua Gomescurrent president of Fiesp and son of José de Alencar, senator for Minas Gerais and vice president during Lula’s first two terms, is defended within the transition team.
(With Matheus Caselato)
Follow Money Times on Linkedin!
Stay informed, post and interact with Money Times on Linkedin. In addition to staying on top of the main news, you have exclusive content about careers, participate in polls, understand the market and how to be at the forefront of your work. But that’s not all: you open new connections and find people who are a good addition to your network. No matter your profession, follow Money Times on Linkedin🇧🇷
I am an author and journalist with a focus on market news. I have worked for a global news website for the past two years, writing articles on a range of topics relating to the stock market. My work has been published in international publications and I have delivered talks at both academic institutions and business conferences around the world.