Nicolás Maduro secures third presidential term amid controversy, economic crisis
Date
7/29/2024 5:40:40 AM
(MENAFN) In the recent presidential elections held in Venezuela, President Nicolás Maduro has been declared the winner of a third term, securing 51.2 percent of the vote, according to the National Electoral Council. The election, however, was marred by allegations of intimidation and concerns over potential fraud. Opposition candidate Edmundo González Urrutia, who was leading in opinion polls prior to the election, received 44.2 percent of the vote, as reported by Elvis Amoroso, the head of the pro-government electoral body.
Maduro's victory grants him another six-year term in office. The election featured ten candidates, but the real competition was between Maduro and González Urrutia. González Urrutia, a former diplomat aged 74, replaced the popular opposition leader María Corina Machado after authorities disqualified her from running.
Despite initial opinion polls suggesting a strong lead for the opposition, the election proved to be closely contested. Maduro, addressing his supporters in a speech outside the presidential palace in Caracas, promised to deliver "peace, stability, and justice." He vowed to uphold the law and maintain dialogue, even as the election environment was tense with accusations of intimidation and fraud.
Venezuela, once one of Latin America's wealthiest nations due to its oil production, is currently grappling with a severe economic crisis. Oil output has plummeted from over three million barrels per day to less than one million, and the country has experienced a dramatic 80% decline in GDP over the past decade. Rampant inflation has led to a partial dollarization of the economy as the country struggles with economic mismanagement and corruption.
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