Venezuelan President Nicolas Maduro openly admitted defeat in the country's Dec. 6 legislative elections. The opposition coalition National Unity Roundtable won 99 seats in the National Assembly, compared to 46 seats for the ruling United Socialist Party of Venezuela (PSUV). The outcomes for 22 seats have yet to be released. As it stands, the National Unity Roundtable is still two seats shy of a three-fifths majority, which would grant the opposition coalition significant powers in the legislature — including the ability to remove the vice president and Cabinet ministers by congressional vote.

Despite the government's apparent concession, the rest of Maduro's term will not be without political conflict (and, as a result, additional economic pain). Indeed, protests could be imminent if the final tallies show the opposition falling short of the three-fifths majority, particularly if the results appear to the opposition to be a product of electoral fraud.

Either way, the win will grant the National Unity Roundtable considerable leverage in Venezuela's National Assembly, which has been dominated by a pro-government coalition since 2000. Yet, opposition plays can be held in check by presidential veto and Supreme Court rulings, exacerbating the potential for further political conflict between the two sides. Legislative gridlock and street protests could increase as a result — especially considering the economic troubles underlying the political tension. Rapid inflation in Venezuela will continue to drive public dissatisfaction with the both the president and the government, and there is little either side can do about it for now.