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Brazil’s President-elect Lula names incoming cabinet ministers

Brazilian President-elect Luiz Inacio Lula da Silva unveiled the first cabinet selections of his incoming administration. These include key posts such as chief of staff and finance minister.

Lula made the announcement from Brasilia’s transition headquarters, where he said that Fernando Haddad, a close ally, would be his finance minister. Haddad was the former mayor in Sao Paulo.

He Mauro Vieira, a career diplomat, was also chosen as foreign minister. Jose Mucio, a former congressman, was also chosen as defense minister. Rui Costa, Bahia governor, was appointed chief of staff, Flavio Dino, ex-Maranhao governor, was appointed justice minister.

Lula, who assumed office on January 1, wrote that “When you create a government you look at Brazilian society in its entirety.”

“The [ministers] Today, it was announced that people are qualified to do the job. We will also have ministries that include women, black men, and women, and indigenous peoples. We will have a government with the face of Brazil.”

In October, Lula — a popular left-wing candidate representing the Workers’ Party (PT) — narrowly won far-right incumbent Jair Bolsonaro in a run-off presidential election that earned him 50.8 percent of the vote, compared to Bolsonaro’s 49.2 percent.

Despite unfounded claims of electoral fraud by Bolsonaro’s Party, Lula’s election victory was upheld by the country’s highest electoral authority (the Superior Electoral Tribunal, TSE).

Lula was previously president of Brazil between 2003 and 2010. However, he was convicted on corruption and money laundering charges in 2017. His 2018 presidential candidacy was ended when he arrested.

Haddad, his running mate at that time, won his place in the election and eventually lost to Bolsonaro during a runoff.

Brazil’s Supreme Court revoked the criminal convictions against Lula, opening the way for Lula’s successful presidential campaign in 2021.

Investors have expressed concern about Trump’s economic policies as he prepares for his third term as President. They also called for stricter government spending rules.

Lula’s transition team presented a multibillion-dollar plan for increasing social spending to Brazil’s National Congress in November. It included a social spending budget and an increase in the minimum wages.

Lula has made it clear that he will prioritize social spending over fiscal restriction, calling it his mission “to tackle poverty” and ensure that every Brazilian has had coffee, lunch, dinner, and again.

He said, “It is not a good idea to think only about fiscal responsibility. It is time to start thinking about the social responsibility.”

Former São Paulo mayor Fernando Haddad becomes Lula’s finance minister after weeks of speculation over the high-profile post [Ton Molina/AP Photo]

Lula’s choice for finance minister is Haddad. He is a lawyer with an economics master’s degree and a doctorate of philosophy. Haddad was considered moderate by the Workers’ Party and was a part of Lula’s first term as president in 2003. He served in the Ministry of Planning and Budget.

He After serving six years as education minister, he ran for the office of mayor of Sao Paulo. He negotiated the city’s debut with federal officials, reducing it by $9.52 million (50 Billion reais) during his time there.

Sergio Vale, a chief economic economist at MB Associates, expressed concern over Brazil’s financial stability under Haddad.

“This government’s concerns about spending for the next few years are not yet clear. Haddad has less involvement with tax matters than the market expects. Haddad also has less dialogue than expected with Congress. [Lula’s] Vale stated that former ministers were being interviewed by The Associated Press.

For Lula’s budget plan to go into effect, both chambers must approve it by Brazil’s Congress.

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Merry

Merry C. Vega is a highly respected and accomplished news author. She began her career as a journalist, covering local news for a small-town newspaper. She quickly gained a reputation for her thorough reporting and ability to uncover the truth.

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