President Nicolás Maduro signed the decree on Tuesday establishing an economic emergency in the country in response to the international circumstances and the impact of the economic trade war against the world and Venezuela.
"I appeal to the constitutional powers granted to me by the economic emergency decree to comprehensively protect all productive sectors and guarantee balance, harmony, capacity, resilience, and recovery in the face of the circumstances facing the world. Today, April 8, I am signing the economic emergency decree, which empowers me for two months to act, implement, and implement various forms of public policies to defend the national economy, protect it, and advance it," he said.
From the Poliedro de Caracas, during the activation of the Telecommunications and New Technologies Engine, the head of state instructed the Executive Vice President of the Republic, Delcy Rodríguez, to immediately hand over the project to the National Assembly and the Constitutional Chamber, as mandated by the Constitution.
"I am relying, as I did in 2016 and subsequent years until 2021, on Articles 337, 338, and 339 of the Magna Carta," he added.
The following decree says:
Considering that the world is currently facing an unprecedented trade war, caused by the United States government's tariff policy, in clear violation of the international system and trade rules, which creates a significant risk of a global recession with a corresponding collapse of the global economy.
Considering that the ongoing trade war is compounded by recent actions and threats of economic aggression against Venezuela.
Considering that it is the duty of the national Executive to adopt all measures within its reach to guarantee the harmonious development of the national economy and protect the population and all productive sectors.
Considering that in the face of the impending global recession and the multifaceted aggression against Venezuela, with the resulting impact on the Republic, urgent and extraordinary measures must be adopted and implemented.
Considering that the measures to be taken to protect the people from existing threats must be of great magnitude and impact on the national economy and structural in nature, in order to safeguard the economic, social, cultural, and educational rights of the Venezuelan people, making every effort available to the national Executive to confront the developing multifaceted aggression.
Decrees:
Article 1, a state of economic emergency is hereby declared throughout the national territory due to the extraordinary circumstances seriously affecting the economy of the country, the region, and the world. This is so that the national Executive may adopt the urgent, exceptional, and necessary regulations and measures to preserve the nation's economic balance and guarantee the population the full enjoyment of their rights.
Article 2, as a result of the declaration of the state of economic emergency referred to in this decree. The President of the Republic may dictate all measures he deems necessary to guarantee economic development and growth. These include the following:
Uno, issue exceptional and temporary regulations that are necessary to restore economic balance and protect the rights of the population.
Two, generally suspend the application and collection of national, state and municipal taxes, as well as related administrative procedures, in order to protect the national productive apparatus.
TRES, concentrate the collection of taxes and special contributions created by laws in the national treasury and redirect the available resources from all existing funds as of today.
Four, establish extraordinary mechanisms to combat tax evasion and avoidance.
Five, suspend the application of sections of national taxes and proceed with their collection.
Six, establish mechanisms and percentages for mandatory purchases of national production to promote import substitution. "The line of replacing all imports is very important, Minister, all imports, all of them, and proceed with mechanisms to guarantee the purchase of national production of all goods and products prioritized in this decree," added President Maduro.
Seven, adopt all necessary measures to stimulate national and international investment. This will benefit the development of the productive apparatus, as well as the export of non-traditional products as mechanisms for generating new sources of employment, foreign currency, and income. "It is very important to open the floodgates to new sources of investment. Those Venezuelans or international investors who want to bring their resources to Venezuela will be treated specially so that they can bring them and circulate them in the productive apparatus of the national economy and serve as a powerful source of stability and investment for growth in the coming months and years," Maduro said.
"So, please implement this proposal with the broadest possible scope and protection for national and international capital, given that many Venezuelans are returning from the United States, who have their little fortune and are planning their triumphant return to the country, welcomed with their capital, their entrepreneurship, and their direct employment," the president added.
Eight, authorize the contracts that are necessary to guarantee the restoration of the population's fundamental rights.
Nine, authorize expenditures from the National Treasury and other sources of financing not included in the annual budget. "This was very important in 16, 17, and 18. It allowed us to guarantee, for example, the growth and development of the CLAP program, which was vital to the country's stability and the growth of the agricultural and agroindustrial sector.
Ten, dictate the rules that exceptionally and without any submission to any other public authority, authorize public credit operations, their rescheduling and supplements that are not provided for in the Special Law on Indebtedness, as well as those that allow for an increase in the maximum amounts of indebtedness that the Republic may contract.
Article 3, without prejudice to what is indicated in the previous article, the constitutional guarantee of the legal reserve in economic, financial and monetary matters is suspended for the duration of the economic emergency.
Article 4, the President of the Republic may dictate other social, economic or political measures that he deems appropriate in the circumstances for the economic and social stability of the country in the face of the global situation.
Article 5, public authorities, citizen security bodies, the administrative police, and the Bolivarian National Armed Forces are obliged to collaborate in ensuring full compliance with the measures referred to in this decree.
Article 6This decree will be valid for 60 days from its publication in the Official Gazette of Venezuela, extendable for 60 days in accordance with constitutional procedure.
Article 7This decree will be sent to the Constitutional Chamber of the Supreme Court of Justice for a ruling on its constitutionality within the next 8 days, in accordance with the Organic Law on States of Exception.
Article 8This decree will enter into force upon its publication in the Official Gazette of the Bolivarian Republic of Venezuela.
Given in Caracas on the 8th day of the month of April 2025, year 214 of Independence, 166 of the Federation and 26 of the Bolivarian Revolution.
Nicolas Maduro
Republic President.
"Publish it, explain it, discuss it, and comply with it for the good of all, for all, and for all." We have the tools," President Maduro concluded.
As long as the dollar is the reference value in commerce and services, this scam will never end. As long as our currency, the Bolívar, doesn't revalue, this scam will continue. As long as entrenched mafias, who, along with Fedecámaras and the banks, earn millions of dollars, remain in the government, this will never end.