Venezuelan Court Says Emergency Economic Measures Now in Place
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By Staff Writers, teleSUR
teleSUR
Friday, Feb 12, 2016
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| Certain products, like meat, have become scarce because of Venezuela's economic crisis. | Photo: EFE |
Venezuela’s Supreme Court (TSJ) confirmed Thursday that an emergency economic decree was now in place, allowing President Nicolas Maduro special powers to tackle the financial crisis.
A statement issued by TSJ explained that the decree, was now in effect as it met the conditions of the Organic Law for States of Exception.
Effectively, a declaration of emergency, the decree grants Maduro greater power over the economy for 60 days.
The decree, proposed Jan. 14, was opposed by the opposition-controlled National Assembly.
In a televised address, Maduro welcomed the decision, and pledged to begin using the granted powers immediately to rescue the ailing economy.
"Now that the emergency decree is in place, I'm going to put in place a set of measures in the coming days that I was already working on," he said.
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