In 2015，the decline of crude output and the fall of oil prices contributed to a drop in Venezuela’s oil export revenues. The macroeconomic situation deteriorated，as manifested in surging inflation，severe commodity shortage and tremendous pressure in bolívar fuerte depreciation. The ruling PSUV was forced to embrace a congressional election and suffered a huge setback in the end. The opposition MUD won two thirds of the seats of the next congress，gaining overall control for the very first time. The power struggle between PSUV and MUD will certainly make the Venezuelan political situation more uncertain. As an effort to cope with inflation，the Maduro government raised the national minimum wage four times within a year. In order to improve housing conditions，it continued to vigorously perform the Gran Misión Vivienda（GMVV）. When it comes to foreign policy，the Maduro government attempted to stabilize oil prices and seek more external funds. Venezuela and the United States made some contact，but confrontation remained the tone for bilateral ties.