The renewal of the decree will be sent to the Constitutional Chamber of the Supreme Court of Justice to pronounce on its constitutionality
Nicolás Maduro extended for 60 days, extendable for the same period, the economic emergency decree approved by the National Assembly on April 10, in response to tariffs of 15% imposed by the administration of Donald Trump to Venezuela and whose entry into force was this August 7.
Vice President Delcy Rodríguez said Friday, August 8 that the decision was made due to the “success of its application” to “face the blockade against Venezuela and the World Trade War.”
In his telegram account, he said that with the renewal of DEcreto No. 5,157, whereby the state of economic emergency in the national territory is declared, Approved by Nicolás Maduro will continue “defeating imperial sanctions” and “economic balance.” will be preserved.
*Read also: Trump celebrates new tariffs: billions of dollars are flowing to the US
Scope of Decree 5.157
With the Renewal of the Economic Emergency DecreeNicolás Maduro may dictate “all the measures that it considers necessary to guarantee the development and economic growth of the country”, including:
1. Dictate exceptional and transitory regulations that are necessary to restore economic balances and protect the rights of the population.
2. Suspend, in general, the application and collection of national, state and municipal taxes, as well as the related administrative procedures, in order to protect the national productive apparatus.
3. Concentrate on the National Treasury the collection of rates and special contributions created by laws and redirect the available resources of all existing funds.
4. Establish extraordinary mechanisms to combat tax evasion and elusion.
5. Suspend the application of national tax exemptions and proceed to their collection.
6. Establish mechanisms and percentages of mandatory purchase of national production, to favor import substitution.
7. Adopt all necessary measures to stimulate national and international investment for the benefit of the development of the productive apparatus, as well as exports of non -traditional items, as a mechanism for the generation of new sources of employment, currencies and income.
8. Authorize hiring that is necessary to guarantee the population to restore their fundamental rights.
9. Authorize erogations charged to the National Treasury and other sources of financing that are not provided for in the annual budget.
10. Dictate the norms that, exceptionally and without any submission to another public power, authorize public credit operations, their reprogramming and supplements that are not provided for in the Special Law of Endeudation, as well as those that allow expanding the maximum amounts of indebtedness that the Republic may contract.
The decree will be sent to the Constitutional Chamber of the Supreme Court of Justice to pronounce on its constitutionality.
*Journalism in Venezuela is exercised in a hostile environment for the press with dozens of legal instruments arranged for the punishment of the word, especially the laws “against hatred”, “against fascism” and “against blockade.” This content was written taking into consideration the threats and limits that, consequently, have been imposed on the dissemination of information from within the country.
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