President Maduro threatens seizure of closed factories in Venezuela



    President Maduro threatens seizure of closed factories in Venezuela

    May 15, Caracas: The president of Venezuela Nicolas Maduro has threatened the seizure of factories that have stopped production and the jailing of their owners.

    He said speaking to supporters in the capital Caracas, the country had to recover the means of production, to counter its deep economic crisis.

    On Friday, he introduced a new, nationwide state of emergency.

    Opposition protesters have been rallying in Caracas to push for a recall vote to eject him from power, reports said.

    Maduro said that the state of emergency was needed to combat foreign aggression, which he blamed for Venezuela's problems.

    And he said military exercises would take place next weekend to counter "foreign threats".

    Venezuela has the world's largest oil reserves but its economy has been severely hit by falling global oil prices. Its economy contracted by 5.7% last
    year and its official inflation rate is estimated to be topping 180 percent.

    There are severe shortages of food, medicines and basic goods which Maduro argues are due to business leaders and the US waging an economic war against his government, media reports said.

    The Oslo Times

     
     

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