Fernando Haddad’s departure from the Ministry of Finance, expected in January, is seen as a sensitive move for the PT and for President Luiz Inácio Lula da Silva’s (PT) electoral project in 2026.
The assessment was presented in the first program of Mapa de Risco, the new weekly politics program of the InfoMoneywhen analyzing the political and electoral impacts of a possible change in the Treasury. The debut program aired this Friday (16) and features XP policy analysts, Paulo Gama and Bárbara Baião.
According to experts, Haddad is considered a central player within the PT, both for his role in conducting economic policy and for the political weight he carries on the electoral board. For them, the party would hardly give up its presence in the elections, whether as a direct collaborator in Lula’s presidential campaign or as a potential candidate in São Paulo.
“Haddad is a very valuable piece for the PT so that the party could give up on him in the election, whether as a collaborator in the presidential campaign or as a candidate in São Paulo. As Lula believes in the capital of São Paulo, a large part of his victory in the region is due to Haddad”, points out Paulo Gama.
In this context, Haddad’s eventual departure from Finance is not only seen from an administrative perspective, but as a strategic decision that directly involves the party’s electoral calculation. For analysts, keeping Haddad at the center of the government as long as possible also reinforces the narrative of continuity of economic policy, while preserving his political capital for the decisive moment of the campaign.
“The market’s imagination is to think that in an election year it is natural for any and all politicians to spend more to make deliveries, but this is not the scenario that is being posed by the Lula government”, highlights Bárbara Baião. “And if we analyze, the Treasury, in this tax justice perspective, helped to give a lot of plot and body to this current government, so I don’t see a change in the accounts.”
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Risk Map is the new policy program of InfoMoney. Every week, reporter Marina Verenicz welcomes a team of experts to discuss what really matters in politics and its impacts on markets and investments.
