Venezuelan President Nicolas Maduro has extended the state of emergency in the country’s economy nearly two months.
“Regime extended for another 60 days, 120 days validity of the decree against the oligarchic parasites, and speculators”, said Maduro during a meeting of the Council of Ministers of the South American country.
According to him, during action of state of emergency in the economy were adopted on 21 decree, aimed at maintaining social stability and counteracting the economic war, ostensibly waged by right-wing sectors against the government. For the first time a state of emergency in the economy was announced in January of this year and then extended for 60 days in March. According to the document, the head of state is granted authority to provide protection of population in conditions of “economic warfare”.
In this case, and the January, March and Maduro decrees were rejected by the opposition-dominated Parliament. Later, the Supreme court of Venezuela recognized the March decree are valid, despite the failure of the National Assembly to approve it.
Now the situation in Venezuela has become critical against the background of shortages, galloping inflation and falling government revenues due to lower oil prices, as well as the institutional crisis between the Executive and legislative branches of government after the inauguration of the Parliament controlled by the opposition.
