Vice President Tareck El Aissami says Venezuela's President Nicolas Maduro who is battling with a crippling economic crisis will run in the upcoming presidential election.

Venezuela's acting President Nicolas Maduro gestures to supporters after he registered as a candidate for president in the April 14 election outside the national election board in Caracas on  March 11, 2013.
Venezuela's acting President Nicolas Maduro gestures to supporters after he registered as a candidate for president in the April 14 election outside the national election board in Caracas on March 11, 2013. (Reuters)

Venezuela's President Nicolas Maduro will seek another term in elections next year, Vice President Tareck El Aissami said on Wednesday.

In 2018, "we will have, God willing, people willing, the re-election of our brother Nicolas Maduro as president of the republic," El Aissami told a meeting of the ruling United Socialist Party of Venezuela.

Next year's presidential election is scheduled for December, but some experts believe it could be brought forward to March.

The announcement comes as the South American country is suffering shortages of food and medicine and hyper-inflation after a fall in the price of oil.

Ratings agencies have found Venezuela in partial default on massive international loans, estimated at $150 billion.

Maduro is also under fire internationally for marginalising the opposition, which controls the legislature, and stifling independent media.

His government is due to begin talks with the main opposition coalition next week in the Dominican Republic to try to put an end to the political crisis.

Source: AFP