BRASILIA, March 20 - Dario Durigan, newly installed as Brazil’s finance minister, said on Friday he intends to continue the economic policies pursued by his predecessor, Fernando Haddad, who vacated the post to run for governor of Sao Paulo in the October elections.
In his first public remarks since being sworn in earlier in the day, Durigan - a former deputy for Haddad - outlined priorities that include a commitment to preserving the efficiency of public finances and pursuing improvements in the country’s credit model.
Durigan also urged a more active role for Brazil’s Treasury in international debt markets. He said the government may issue sovereign bonds in European markets later this year as part of that strategy.
The new minister assumes office as the administration confronts the economic fallout from rising diesel prices. Durigan tied the spike in oil costs to the ongoing U.S.-Israeli war on Iran, and noted the government has already begun responding to fuel-price pressures.
Last week the administration of President Luiz Inacio Lula da Silva cut federal taxes on diesel and announced a subsidy for diesel imports. Durigan said the government could adopt additional measures depending on how the conflict evolves.
His statements underline a policy approach that emphasizes continuity rather than abrupt change, while signalling a willingness to adjust tactical measures in response to international energy-market developments. Durigan’s emphasis on public-finance efficiency and credit-model reform frames near-term priorities for the ministry, alongside a possible expansion of sovereign borrowing activity in Europe.
Summary
Dario Durigan, sworn in as finance minister, pledged to continue Fernando Haddad’s economic policies, prioritizing fiscal efficiency and credit-model improvement. He advocated a larger Treasury presence in international debt markets, including potential sovereign bond sales in Europe later this year, and noted the government may take further steps to address rising diesel prices linked to higher oil costs from the U.S.-Israeli war on Iran.