Venezuelan Authorities Prolong Economic Emergency for 6th Time
05:34 16.03.2017
The Venezuelan government prolonged the economic emergency for 60 days since March 13, the presidential order published by the Gaceta Oficial government newspaper said on Wednesday.
MEXICO CITY (Sputnik) – That is the sixth prolongation of the economic emergency introduced in January 2016.
"Prolongation of emergency is linked to an extraordinary situation in the social, economic and political spheres," the order read.
Venezuela is struggling with a shortage of certain goods combined with galloping inflation and decline of state's income. The crisis was caused by the drop of oil prices and institutional crisis between the legislative and executive powers, which started in January 2016 after the parliamentary election resulted in the victory of opposition.
Venezuelan President Nicolas Maduro declared an economic emergency in Venezuela on January 15, 2016. The country's opposition has blamed Maduro of being responsible for the economic crisis in the country.
© Sputnik
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