CARACAS: Venezuelan President Nicolas Maduro has extended the country's state of "economic emergency" for another 60 days, an official newspaper reported, a sign of declining conditions in the crisis-hit country.
The state of emergency, in place since January, was necessary due to "extraordinary... social, economic, political, natural and ecological" pressures, according to the presidential decree, signed by Maduro on Tuesday and released Wednesday.
The declaration allows the government to seize assets of private companies to obtain essential food and goods.
It was the third time the state of economic emergency has been extended.
In May, Maduro declared a general state of emergency, broadening the scope of the economic emergency degree and allowing security units to tackle food and energy shortages and public unrest.
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