ESPACIO PUBLICITARIO
CARACAS, Wednesday December 26, 2012 | Update
 
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FINANCE | Decree signed by Chávez on December 9

Venezuela's vice-president bestowed economic decision-making capacity

The decree authorizes the executive vice-president to rule in the economic arena

The vice-president may pass decrees concerning expropriations (File photo)
EL UNIVERSAL
Wednesday December 26, 2012  01:13 PM

In compliance with Official Gazette 40,077, issued on December 21, upon Venezuelan President Hugo Chávez's consent, Executive Vice-President Nicolás Maduro is entitled to take actions in the economic arena.

As set out in decree 9,315, signed on December 9 and published in the gazette, Maduro may approve additional credits to the budget, with prior authorization from the National Assembly, and pass decrees for the transfer of funds from the budget to ministries. He is also authorized to approve operations for public loans.

The Venezuelan vice-president may also order expropriations or compulsory acquisition prior authorization from the president.  
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Demoting the environment

At the recent UN climate summit President Nicolás Maduro gave a speech on global warming highlighting the fact that "Capitalism has ignored over decades nature's capacity to load and recover," and, accordingly, "if we want to change climate, we need to change the system."

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