While a majority in the National Assembly in Venezuela will enable the centrists to challenge Maduro's leadership -- although pushing through a referendum on the leadership could be a possibility -- and gives it influence over the budget, it will not be a panacea for Venezuela's ills, according to experts.
Diego Moya Ocampos, senior Latin America analyst at IHS, told CNBC that a new administration in Venezuela was likely to encounter "policy paralysis."
"That the opposition have secured a majority in the National Assembly is a game-changer in Venezuela because it paves the way for the possibility of an opposition eventually taking control of the government," he told CNBC's "Worldwide Exchange" Monday.
"Maduro's administration and the last 15 years of 'Chavismo' have been characterized by a high level of governmental intervention in the economy, a high regulatory burden and a lot of price and foreign exchange control which have certainly had a detrimental effect on the recent environment."
Casting a shadow on the opposition's victory, Ocampos predicted "policy paralysis" going forward.
"The incumbent Chavista administration does not have the political capital to conduct a comprehensive program of reforms on the scale needed such as easing foreign exchange, price controls and the opposition, while having a majority, will not see the legislation that they will hope to pass to limit the government's role in the economy, implemented. I think those are the key dynamics."