At the activation of Engine 13, dedicated to Telecommunications and New Technologies, the President of the Bolivarian Republic of Venezuela, Nicolás Maduro, signed the Economic Emergency Decree.
This decision responds to the effects of the international trade war and its direct impact on the national economy.
The Venezuelan President bases this decree on compliance with the constitutional mandate that guarantees human rights, inspired by the legacy of the Liberator Simón Bolívar and the principles of peace, equality, and justice.
Thus, the decree seeks to protect the well-being of the Venezuelan people and ensure their development in an environment of economic and social stability.
Key Considerations:
•Unprecedented Trade War: The United States government’s tariff policy creates a significant risk of a global recession and severely impacts international commodity prices.
•Coercive Measures against Venezuela: New punitive actions seek to weaken the country’s external revenues, restricting access to essential goods and violating fundamental rights.
•Executive Responsibility: The National Government must implement urgent measures to guarantee the functioning of the economy and protect the population from such attacks.
Main Articles of the Decree:
Article 1. A state of Economic Emergency is hereby declared throughout the country. This measure will allow the Executive Branch to adopt urgent regulations to preserve the national economy and guarantee access to essential goods and services.
Article 2. The President may:
•Issue exceptional and temporary regulations to stabilize the economy.
•Suspend the application and collection of taxes to protect the productive sector.
• Establish mechanisms to combat tax evasion and promote national production.
• Promote domestic and foreign investment and authorize the necessary contracts to restore fundamental rights and access to essential services.
Article 3. During the state of emergency, the constitutional guarantee of legal reserve in economic and financial matters is suspended.
Article 4. The President may issue social, economic, or political measures that he deems appropriate in the face of the extraordinary situation.
Commitment to the People:
The President explained that the central objective of this decree is to safeguard the economic, social, cultural, and educational rights of the Venezuelan people. The Public Powers and the Bolivarian National Armed Forces are called upon to collaborate in the implementation of these measures.
Period of Validity:
The Decree will enter into force upon publication in the Official Gazette and will have an initial duration of sixty (60) days, extendable for the same period as established by the Constitution.
In the words of President Nicolás Maduro, this action reflects his commitment to defending the interests of the Venezuelan people in times of adversity.
