Fernando Haddad is expected to resign as Brazil's finance minister by the end of next week to run for governor of São Paulo, sources told Reuters. President Lula has urged Haddad to enter the race to strengthen the left in a state that often tilts right. Polls show a tight Lula–Flavio Bolsonaro national runoff and a first-round lead for Governor Tarcísio de Freitas over Haddad in São Paulo. Haddad had planned to coordinate Lula's re-election campaign but has faced mounting pressure to become a candidate.
Haddad Expected To Resign As Finance Minister Next Week To Run For São Paulo Governor, Sources Say
Brazil's Finance Minister Fernando Haddad speaks during a ceremony to launch a digital platform for tax reform in Brasilia, Brazil January 13, 2026. REUTERS/Adriano Machado
BRASILIA, March 9 (Reuters) - Brazilian Finance Minister Fernando Haddad is expected to resign by the end of next week to launch a campaign for governor of São Paulo, four sources told Reuters on Monday. President Luiz Inácio Lula da Silva has urged Haddad to enter the race to strengthen the left's position in Brazil's most populous and politically crucial state.
Background And Political Context
One source said Haddad has not yet had a final, conclusive conversation with Lula about formally joining the race, although the two have been in frequent contact. The development was first reported by newspaper O Globo. The finance ministry declined to comment.
Lula's push reflects his concern that a weak showing for the left in São Paulo — a state that often favors the right — could undermine his re-election bid. Haddad had previously planned to serve as one of the coordinators of Lula's re-election campaign and had not intended to seek office this year.
Polls And Electoral Pressure
Sources told Reuters that mounting concerns about a difficult national election have increased pressure on Haddad to enter the São Paulo gubernatorial contest. A Datafolha poll released over the weekend indicated a potential second-round runoff between Lula and Senator Flavio Bolsonaro, the eldest son of former President Jair Bolsonaro, would be a technical tie.
A separate Datafolha poll of São Paulo state voters showed Governor Tarcísio de Freitas, backed by the Bolsonaro family, leading with 44% in a hypothetical first round versus 31% for Haddad. De Freitas defeated Haddad in the 2022 contest.
Implications
If Haddad resigns and runs, the move would represent a strategic shift aimed at shoring up Lula's support in a key state and improving the left's prospects nationally. Observers say the decision will be closely watched for its impact on both the presidential race and the balance of power in São Paulo.
Reporting by Lisandra Paraguassu, Bernardo Caram and Marcela Ayres; writing by Isabel Teles; editing by Gabriel Araujo and Deepa Babington.
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