Venezuela might see the political change it has been hoping for during the December 6 Venezuelan Congressional Elections. For the first time in 17 years, the democratic coalition is a favorite to win.

In a report with Wall Street Journal, Venezuela's opposition party has been riding on a wave of voter anger, fueled by a country knee deep in economic crisis. The opposition party's recent victory in the midterm elections on Sunday dealt a crushing blow to Venezuelan president, Nicolas Maduro, and the rest of the ruling Socialist Party.

Political candidate for the center-right opposition seized a majority in the national assembly. This victory will spell a major shift in political change for the country, that has set itself on a leftist path since the rule of charismatic president, Hugo Chavez. The late president was set to make Venezula a model of "21st century Socialism," reports The Guardian.

Just five hours after the polls were closed, the electoral commission said that the opposition had won 99 of the 167 seats in the national assembly, while the Socialist party won 46. As of this moment, the remaining 22 seats are still undecided.

The opposition's recent victory in the Venezuelan Congressional Elections spelt a great victory for the opposition coalition, the Democratic Unity Roundtable (MUD) having broken the dominion of the United Socialist Party of Venezuela (PSUV) for the first time in almost two decades.

The opposition encountered a series of violent attacks weeks prior to the elections. Opposition candidate, Luis Manuel Diaz, was gunned down following a political rally. Three suspects have been named in the murder, although the opposition still suspects Maduro, who has denied the claims.

Maduro added that Diaz's death was the result of gang wars in the nation and that the opposition was to blame for inciting political wars against the Socialist party. Maduro maintains that he and the rest of the Socialist party are "guarantors of peace." It was Maduro who ordered an investigation of Diaz's death. 

The opposition's victory was seen as a form of protest against Maduro's rule, which has put the country into a period of great political and economic instability. Despite Venezuela having one of the world's greatest oil reserves, the country suffers from shortages of basic commodities. Venezuela also suffers from inflation, as well as a wave of violent crime.

According to Maduro, the country's economic woes are the result of a so-called "economic war," made by the opposition and the United States.