05:35 GMT +319 October 2019
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    Venezuela's President Nicolas Maduro

    Maduro Declares Emergency Without Consulting Venezuelan Economy Officials

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    Secretary-General of the Democratic Unity Roundtable, Jesus Torrealba said that President of Venezuela Nicolas Maduro signed a decree on a state of economic emergency without holding consultations with Venezuela’s sectorial authorities.

    MEXICO (Sputnik) — President of Venezuela Nicolas Maduro signed a decree on a state of economic emergency without holding consultations with Venezuela’s sectorial authorities, Secretary-General of the Democratic Unity Roundtable, Jesus Torrealba, told Sputnik on Saturday.

    On Friday, Maduro signed a decree on a state of economic emergency in Venezuela, which will last for sixty days, in order to increase the fundamental indicators of production, product distribution, commercialization and price controls in the country amid a grave economic crisis.

    "[Maduro] speaks of a political, social and economic dialogue to overcome a terrible situation in the country, but his economic emergency decree was published without any consensus with industry," Torrealba said.

    Following the emergency state announcement, the Venezuelan president offered to hold dialogue with the opposition, which accepted the request to discuss any necessary issues.

    Earlier this week, 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.


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