Posted: Monday, December 7th 2015. 6:15 a.m. CST.
By BMG: Venezuela’s opposition party won the majority of seats in the National Assembly in the elections that was held Sunday, overturning nearly two decades of dominance by the Socialists of President Nicolas Maduro.
“Venezuela, we won!” said opposition leader Henrique Capriles.”I always told you all, this was the way! Humility, maturity and serenity. Long live the people of Venezuela!”
“We have lost a battle today but now is when the fight for socialism begins,” President Nicolás Maduro said.
Maduro said the outcome of the election did not mean an end to the “Bolivarian revolution” he inherited from Chávez who died in 2013 from cancer.
According to the BBC, it is the worst-ever defeat for the leftist movement founded by former leader Hugo Chavez in 1999.
Food shortages of staples – such as milk, rice, coffee, sugar, corn flour and cooking oil were among the campaign issues.
Venezuela has the highest inflation rate in the region and has been hit hard by the continuing low price of oil which is its main export.
The new government that takes over Jan. 5 now has the task of fixing what the IMF considers the world’s worst-performing economy.
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