Haddad is unlikely to attend the World Economic Forum in Davos, sources say

Finance Minister Fernando Haddad is not expected to participate in the World Economic Forum in Davos, Switzerland, which will take place between January 15 and 19, 2024, according to government sources.

Haddad must stay in Brazil to focus on domestic matters, especially the Provisional Measure (MP) for re-encumbrance. The minister's decision was taken because of the heavy agenda in Brasília, which also includes the regulation of the Tax Reform, approved in December.

The federal government published on December 29th, the last working day of the year, the MP that proposes the gradual re-encumbrance of the payroll of different sectors of the economy, causing discomfort among wings of Congress and the productive sector.

Congress had overturned President Lula's veto on payroll tax relief on December 14th. Therefore, after returning from vacation on January 15th, the minister will focus on negotiating with parliamentarians on the topic.

Furthermore, when approving the Tax Reform, it was defined that the government would have up to 180 days to regulate at least 71 topics in the text. The Minister of Finance must coordinate with Congress the regulation of these points, which include not only the definition of tax rates, but also activities that fall under certain regimes and which products can make up the basic basket, which will be tax-free.

For the second year in a row, President Lula and Vice President Geraldo Alckmin will also not participate in the event in the Swiss Alps, which brings together important exponents of global GDP.

And there are still doubts about the participation of the Minister of the Environment, Marina Silva. The minister participated in the economic forum in 2023 and was one of the event's prominent authorities, which focused much of the discussions on topics related to sustainability.