Venezuela's National Assembly has granted President Nicolas Maduro wide-ranging special powers to issue economic rules by decree for one year so that he can fix the economy.  Critics fear he may use them against the opposition.

“I want to thank the majority of patriotic and socialist lawmakers for approving this law that will let us advance, over the next 12 months, in defeating the economic war being waged against our people,” Maduro said.

The “Ley Habilitante” legislation increases Maduro’s political muscle in the run-up to December 8 municipal elections, a contest that could hand considerable gains to his more conservative opposition.  People are alarmed over food and product shortages, and inflation surging to nearly 55 percent. 

Over the weekend, Maduro rolled out the troops to tackle high prices, ordering major retailers to cut prices on electronics and household durable good such as washer – dryers and kitchen appliances.  Thousands took advantage of the 66 percent Maduro discounts.

Critics, however, blame Venezuela’s economic hardship on the government-imposed fixed exchange rate and price controls that they say have led to those food and material shortages.  And they don’t see the need for giving Maduro the ability to issue laws without legislative approval.

“What does Maduro needs more powers for?  He handles the economy," opposition MP Andres Velasquez told reporters.

Another opposition leader Julio Borges said, “You want the Enabling Law to concentrate power.”