Venezuela’s President Maduro Decrees New Laws to Boost Economy

Venezuela’s President Nicolas Maduro used decree powers granted by the National Assembly last year to sign new laws he said will help improve the country’s economy and attract foreign investment. Maduro said the 28 measures, which included a new luxury tax and increase in the price of alcoholic beverages, would restore growth in the South American country with the world’s fastest inflation. He also ordered $4 billion from a loan from China to be added to the nation’s international reserves. “I can tell you now, because I have knowledge of the economic statistics, that we have already recovered growth,” Maduro said today in a televised speech from Caracas that lasted four hours. More…