Venezuela's vice-president bestowed economic decision-making capacity
The decree authorizes the executive vice-president to rule in the economic arena
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.
A group of some 60 Venezuelan economists from across the country and from different generations and backgrounds, has met regularly in the past couple of years and now has brought forth a document explaining the reasons of the current emergency and outlining specific proposals on how to address the serious economic crisis the country has plunged into over the last three years.