Brazil's Haddad says Durigan likely to replace him as finance minister

Brazil's Finance Minister Fernando Haddad confirmed on Tuesday that he will step down next week and said that his deputy, Dario Durigan, is likely to succeed him.

A formal announcement on who will take over the ministry, however, is up to President Luiz Inacio Lula da Silva, Haddad told reporters in Brasilia.

"Dario has a very good relationship with the president, one of great trust... He is a great public administrator," said Haddad, who had previously announced he would leave his role ahead of Brazil's general elections in October.

Haddad is expected to run for governor of Sao Paulo state, four sources told Reuters earlier this week.