Venezuelan President Nicolás Maduro issued a 60-day economic emergency decree covering 10 key areas.

The president detailed the key points of this measure, which also includes the suspension of the constitutional guarantee of legal reserves in economic, financial, and monetary matters.

Emergency measures

1. Exceptional and temporary regulations that are necessary to restore economic balance and protect the rights of the population.
2. General suspension of the application and collection of national, state, and municipal taxes, as well as related administrative procedures, in order to protect the national productive apparatus.
3. Concentrate the collection of taxes and special contributions created by law in the National Treasury and redirect available resources from all existing funds as of today’s decree, this Tuesday, April 8.
4. Establish extraordinary mechanisms to combat tax evasion and avoidance.
5. Suspend the application of national tax exemptions and proceed with their collection.
6. Establish mandatory mechanisms and percentages for the purchase of national production to promote import substitution.
7. Adopt all necessary measures to stimulate national and international investment “for the benefit of the development of the productive apparatus, as well as the export of non-traditional products as a mechanism for generating new sources of employment, foreign currency, and income.”
8. Authorize contracts that are necessary to guarantee the restoration of the population’s fundamental rights.
9. Authorize expenditures from the National Treasury and other sources of financing not provided for in the annual budget.
10. Issue regulations that, exceptionally and without any obligation to any other public authority, authorize public credit operations, their rescheduling, and supplements not provided for in the Special Debt Law, as well as those that allow for an increase in the maximum amounts of debt that the Republic may incur.

M.Pino

Source: bancaynegocios

(Reference image source: Jakub Żerdzicki en Unsplash)

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The Ministry of Foreign Trade and Tourism of Peru, Roberto Sánchez, announced the emergency declaration of the tourism sector, which will be in force until the end of 2022, and which will serve to alleviate the effects that the restrictions due to the coronavirus are having on the country’s economy.

“The Emergency Plan for the Tourism Sector aims to establish sectoral measures to mitigate the serious crisis that tourism is going through as a result of COVID-19“, the Ministry detailed in a statement.

This declaration comes after the “coordinated work” between the Peruvian Executive and the private sector, which has served to agree on financial and economic measures that benefit tourism entrepreneurs throughout the country.

“We will boost public-private investments in tourism and strengthen tourism facilitation and promotion actions,” said Sánchez, who added that the Executive led by President Pedro Castillo has assumed “a real commitment” to reactivate the sector.

Although the Ministry has not specifically explained what the measures will be, it has detailed that it will be a financial rescue, with which it intends to facilitate and promote tourist activity in the country.

Source: dpa

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