Brazil's Lula weighs VP Alckmin as next finance minister to woo centrist voters
EWZ•Brazilian President Luiz Inacio Lula da Silva is considering appointing Vice President Geraldo Alckmin as finance minister next year if he is re-elected, according to two people familiar with the proposal. The plan remains under discussion and is intended to bolster fiscal credibility and attract centrist voters.
1. Proposal remains under discussion
Lula is considering having Alckmin remain vice president while also serving as finance minister next year, two people familiar with the proposal said. Alckmin, a centrist with business ties, previously led Brazil's Development, Industry and Trade Ministry and served two terms as governor of Sao Paulo.
2. Election and fiscal backdrop
Lula finished second to Senator Flavio Bolsonaro in the first round, whose result defied most polling forecasts. Brazil's gross public debt has risen by more than 10 percentage points of GDP since Lula took office, reaching 82.9%. Lula said after the result that neither he nor Alckmin could be lectured on fiscal policy or responsibility.
