Venezuela declares economic emergency

Venezuela declares economic emergency

State of economic emergency, adopted by the Government of Venezuela for a period of 60 days, will allow taking timely measures to deal effectively with economic problems. According to the decree adopted by the government, in particular, this will allow to simplify the currency exchange procedure to speed up the import of necessary goods. Also, additional budget funds can be allocated to health, education and other social sectors. Venezuelan authorities could also "demand from private and public companies to increase production to supply certain goods". In early January 2016 the Venezuelan president Nicolas Maduro said in his televised address on preparing measures to impose a state of emergency in the economy.

 

 

 

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