Brazil delays tax reforms ahead of presidential election

New Finance Minister Dario Durigan will delay tax reforms to protect political capital before the October election. He plans to focus on microeconomic laws.

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Dario Durigan, the newly appointed Finance Minister of Brazil, is set to adjust the ministry's communication strategy and delay several divisive tax measures as the country approaches its presidential election. Durigan, who succeeded Fernando Haddad following the latter's departure to run for the governorship of Sao Paulo, intends to prioritize microeconomic legislation to avoid depleting political capital in Congress.

Dario Durigan, the Executive Secretary of the Ministry of Finance, speaks during a digital platform launch for tax reform in Brasilia. REUTERS/Adriano Machado
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