In an interview with “Financial Times”, Minister avoids talking about growing deficit and says market is “upset” because government “worked”
The Minister of Finance, said that Brazil occupies “Privileged position” to face the global trade war. In to the British newspaper Financial Timespublished on Sunday (30.mar.2025), Haddad avoided responding directly on the Brazilian fiscal deficit and commented on the “Plating” market with the government of the president (PT).
When asked if the government had the deficit under control, the minister compared his role to a Formula 1 pilot. “You don’t care about him and ask if everything is under control”said Haddad. “I think we have a good team, a good car and, who knows, maybe even a good driver”he declared. The newspaper highlighted IMF projections that indicate an increase in Brazilian gross debt of 87.6% of GDP by 2024 to 97.6% in 2029.
In the international scenario, Haddad commented on the fact that Brazil did not suffer exclusive American measures despite criticism of Brazilian rates. The minister cited US surplus of US $ 7.4 billion in the trade balance with Brazil as a factor that explains the absence of retaliation.
“I see no chance to choose one side”, Declared Haddad about relations with China and USA, major business partners in Brazil. He highlighted the “Excellent bilateral relationship” with the Chinese and “Historical partnership” with the Americans.
The minister mentioned the agreement between Mercosur and the European Union, signed in December 2024 after more than 20 years of negotiation. The agreement eliminates rates in 90% of bilateral trade, but faces resistance from countries such as France and Poland.
Haddad also stated that the financial market is “upset” with the Lula government because “it worked out”. The minister said managers who bet against the government after the 2022 electoral victory “They lost money”.
