Lula to Start Considering Brazil Ministers Only in Late November

(Bloomberg) -- Brazil President-elect Luiz Inacio Lula da Silva said he will only start considering cabinet appointments later this month after returning from a trip to Egypt, toning down expectations of imminent announcements about his government’s configuration.

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“When I come back from Egypt, I will start to think about the set up of the ministries,” the president-elect told reporters in Brasilia on Wednesday. “Everything happens at the right time. You might even have surprises.”

Lula will leave Brazil on Monday to attend the COP27 climate talks in the Egyptian resort of Sharm el-Sheikh and will return to the country on Nov. 19.

The comments in his first press conference after winning Brazil’s election on Oct. 30 suggests that Lula will take his time before announcing his cabinet even as investors grow anxious about who will occupy the key position of Economy Minister.

When he was first elected Brazil’s president in 2002, Lula only disclosed the name of his economy czar in December, days before taking office. On Tuesday, Lula’s Vice President Geraldo Alckmin announced a group of economists who will take part in the transition process, clarifying they won’t necessarily be part of the cabinet.

Read More: Lula Mixes Liberal, Left-Leaning Economists in Brazil Transition

In his visit to Brasilia, Lula met with Brazil’s top institutional figures including the speaker of the lower house, the president of the senate and the heads of the supreme court and the electoral court. However, he didn’t provide details on the political negotiations regarding a constitutional amendment that will have to be approved by congress this year to maintain special social payments into next year, a key pledge of his campaign.

Read More: Lula’s Team Delays Announcement of Major Spending Plan

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