Minister Luis Villegas: The use of the bolivar increased by 90% and e-commerce 55% this year

Published at: 12/07/2025 11:02 AM

With the elimination of the Large Financial Transactions Tax (IGTF) in bolivars, the use of the national currency increased by 90% compared to 2024, while the use of the dollar occupied 10%, as reported by the Minister of National Trade in Venezuela, Luis Antonio Villegas Ramírez, during an interview on the program A Pulso, broadcast by Venezolana de Televisión.

Villegas said “Everything is now more digital, the president of the Bolivarian Republic of Venezuela, Nicolás Maduro, designed, within the framework of the National Economic Council, a strategy to strengthen the economy, he decided to eliminate the IGTF tax in Bolivares, this has allowed us to strengthen the currency, we have a very high growth in the use of the bolivar.”

He also confirmed that the use of e-commerce in Venezuela has grown by 55% so far this year and continues. “We constantly hold working groups with the president of the Venezuelan Chamber of Electronic Commerce, Richard Ujueta, and e-commerce has grown continuously, and this chamber, with the support of the Ministry of National Commerce, offers interesting packages for entrepreneurs.”

The minister explained that the Venezuelan Chamber of Electronic Commerce calls the package it offers a “digital kit”, which includes advice, banking and electronic invoicing, which is very important for merchants, allowing significant economic entry to the country.

He specified that e-commerce in Venezuela is one of the sectors that has grown the most, with 1,200 percent since 2020.

Mazo News Team