'Fears of a spendthrift minister are the result of fake news,' says Haddad, the new Finance Minister.
"For those who fear a spendthrift minister, look at the investment grade of the city of São Paulo," said Fernando Haddad, the future Finance Minister in Lula's government.
Reuters - Fernando Haddad, the future Finance Minister in Lula's government, said this Friday that those who fear he will promote an irresponsible fiscal agenda need to look at his history, and reminded everyone that he was the first mayor to achieve an investment-grade rating when he was in charge of the São Paulo city hall.
“For those who fear a spendthrift minister, look at the investment grade of the São Paulo city government,” Haddad told reporters after his name was publicly confirmed for the Finance Ministry in an announcement by President-elect Luiz Inácio Lula da Silva (PT). “If you don’t look at the person’s track record, you’ll fall for fake news. Why more fake news?”
Haddad guaranteed that the country's new fiscal framework, which will replace the current spending cap rule, will be defined next year. Other priorities for 2023 will be tax reform and the resumption of international agreements, especially with the European Union.
The future minister also stated that he had already sounded out "many people" to be part of his team, without yet making formal invitations, and that the goal is to assemble a diverse group that works cohesively with the Ministry of Planning.
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