The Venezuelan government has announced a 60-day economic emergency to deal with the country’s worsening crisis. President Nicolas Maduro will rule by edict for two months. The decree includes tax increases and puts emergency measures in place to pay for welfare services and food imports. It was published hours before President Maduro delivers a State of the Nation address to Congress for the first time since his centre right opponents took control of the legislature. The decree also instilled more state controls on businesses, industrial productivity and on electronic currency transactions. Supreme Court Venezuela has the world’s biggest known oil reserves but the huge fall in oil prices in the past 18 months has slashed its revenues by 60%. Inflation is said by Congress to be running at 140% a year. President Maduro and new Economy […]