MEXICO CITY (Sputnik) – Venezuela has been in a state of an economic emergency since January. Venezuela’s opposition blames the president for the drastic situation in the country and hopes to hold a recall referendum to remove Maduro from power.
A TSJ decision published on Wednesday states, as quoted by El Comercio, that "the national budget must be presented by the President of the Republic to the Constitutional Court (TSJ)."
Maduro said on Wednesday that he was planning to discuss the 2017 budget on Thursday, after which he was going to present it to the TSJ.
Venezuela’s opposition has warned that the decision to strip the National Assembly of its budgetary oversight is against the country’s constitution.
Up to 96 percent of Venezuela’s budget depends on oil revenues. Public support for Maduro has dropped to record lows after falling oil prices strained Venezuela’s budget, sparking high inflation and food shortages.