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Investing.com -- Brazilian Finance Minister Fernando Haddad confirmed on Thursday that he will not run for public office next year, stating that President Luiz Inacio Lula da Silva has agreed to respect this decision.
During a press conference, Haddad indicated he might step down from his ministerial position soon, expressing his wish to support Lula’s 2026 presidential campaign for a fourth non-consecutive term.
"I expressed my desire to collaborate with President Lula’s campaign, which is incompatible with the position of finance minister," Haddad said.
The finance minister suggested February would be an appropriate time for a potential successor to assume his role.
Haddad, who previously served as Sao Paulo mayor and ran for Sao Paulo state governor, has been the subject of widespread speculation in Brazilian media and political circles regarding possible candidacies for various offices next year.
Earlier on Thursday, Lula told journalists he would welcome seeing Haddad run for office next year, praising the minister for having "a biography to decide what he wants to do."
Brazilian electoral law requires that if Haddad were to change his mind and decide to run, he would need to leave his finance ministry position by April.
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