Maduro Accepts Venezuelan Presidential Candidacy

"If you support me, ... we will triumph again, through the path of truth, through the path of renewed hope," Maduro said at the event held in the capital of Caracas, Xinhua reported.

Maduro highlighted the achievements made during his presidential administration, such as "sustained economic growth, recovery" and the consolidation of "social peace."

The president said "economic growth will exceed 8 percent" this year, as a demonstration of the country's progress with "self effort."

Maduro noted that his aim would be to rebuild and restore the social welfare state left by former president Hugo Chavez but "hurt" by US sanctions.

It is unclear who will be the standard-bearers for Venezuela's opposition in the upcoming presidential election.