The President of Venezuela has declared a 60-day state of economic emergency in the country
Kyiv • UNN
President Nicolas Maduro signed a decree introducing a state of economic emergency in Venezuela for a term of 60 days. This will allow measures to be taken to stabilize the economy and support the social sector.
An economic state of emergency has been declared in Venezuela for two months. This is reported by Bloomberg, reports UNN.
Details
Venezuelan President Nicolás Maduro has introduced an economic state of emergency for a term of 60 days. He signed the corresponding decree live on state television, explaining it by the need to strengthen the national economy and counteract external pressure, in particular from the United States.
The document grants the president extended powers to respond quickly to the financial crisis. Among the measures provided for is the possibility of suspending taxes at all levels of government, using funds outside the annual budget, actively combating tax fraud and reviewing tax benefits.
In addition, the government plans to strengthen the policy of import substitution and create favorable conditions for attracting investment. According to Maduro, investors who decide to work in Venezuela can count on special conditions.
The decree now requires approval by the National Assembly and the Constitutional Chamber of the Supreme Court. After that, the authorities will be able to introduce new instruments to stabilize the economic situation and support the social sector.