President defends the minister in the face of wear and tear with the National Congress and debate on government spending cuts
The president Luiz Inácio Lula da Silva (PT) said this Saturday (June 15, 2024) that, as long as he is the head of the Brazilian Executive, he will protect the stay of the Minister of Finance, Fernando Haddadon the Esplanade.
The PT member’s speech took place during an interview with journalists in Carovigno, Italy, while responding to questions about the cost-cutting agenda defended by Haddad.
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“Haddad will never be weakened while I am president of the Republic, because he is my Minister of Finance, chosen and maintained by me. What will happen is this: if Haddad has a proposal, he will sit down with me and discuss the economy”he declared.
The minister is facing a moment of wear and tear with the National Congress after the MP’s return of PIS/Cofins credits, which raised hypotheses about possible isolation and even frying of the position. The measure was the strategy designed by Haddad to compensate for the tax cuts on payrolls and municipalities.
“The return of a provisional measure due to unconstitutionality is something very exceptional, it has rarely happened in the history of the Republic, and only occurs due to flagrant unconstitutionality, as happened in this case of PIS/Cofins compensation”argued, at the time, Rodrigo Pacheco (PSD-MG), president of the Senate.
In conversation with the Power360, market negotiators compared the relationship with the minister to a frayed shoelace that no longer fits the shoe. They say the honeymoon with the minister is over.
Lula, however, praised Haddad’s economic agenda so far. In Italy, she said the government “did what no one expected”.
“We have already done what no one expected: we regulated the fiscal framework and approved the tax reform. We are demonstrating our seriousness to guarantee political, economic, legal and social stability”he declared.
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