(VOVworld) – Facing a recession and plummeting crude prices, Venezuelan President Nicolás Maduro has approved measures to steady the economy on Friday. Maduro's decree envisaged wider executive powers to control the budget, companies and currency.
Venezuelan President Nicolás Maduro announced new measures to attempt to fix the country's ailing economy. (photo: nationalturk.com) |
With Venezuelans furious at runaway prices and long lines for scarce products at supermarkets and pharmacies, the government blames an "economic war" by foes as well as the oil price fall.
He said incentives measures will be given to 9 sectors including agriculture, construction, mining, oil refinery, telecommunications, tourism, heavy industry, and military.