Maduro Offers Dialogue With Opposition Admitting Economic Catastrophe

Venezuelan President Nicolas Maduro has offered to hold dialogue with the opposition, which accepted the request that comes amid a catastrophic economic situation in the country.

MEXICO CITY (Sputnik) – Addressing the opposition-controlled National Assembly on Friday, Maduro admitted that there is a major economic crisis in Venezuela and said he was "ready and willing" to discuss any necessary issues with the opposition.

National Assembly speaker Henry Ramos Allup agreed to dialogue but stressed that it should lead to specific measures.

On Friday, Maduro signed a decree on a state of economic emergency in Venezuela, which will last for sixty days.

The announcement came two days after Venezuela’s oil price dropped to $24 a barrel, the lowest mark in 12 years. Up to 96 percent of Venezuela’s budget depends on oil revenues, which has a negative impact on the socio-economic situation in the country.

In his first state of the nation address before the National Assembly on Friday, Maduro stressed that only the socialist model will pull the country out of the crisis, saying that he will not let opposition lawmakers pass privatization laws.

The new National Assembly speaker, Henry Ramos Allup, has called for ensuring peace in Venezuela after the opposition won a "supermajority" in the National Assembly in the December parliamentary elections, stressing that the new parliament must work in the interest of all Venezuelans.

The opposition victory in Venezuela came amid widespread public discontent with Maduro’s government.

A series of protests against high levels of violence, record inflation and shortages of basic goods took place across Venezuela between February and June of 2014. The Venezuelan government deemed the protests to be coup attempts and arrested a number of opposition leaders.

On Friday, Maduro proposed to set up a special commission to mediate all issues related to the 2014 protests.