Payments in bolivars increase by 90 %
According to the Minister of National Commerce Luis Antonio Villegas Ramírez, payments in bolivars in Venezuela have increased by 90 % following the elimination of the IGTF
The Minister of National Commerce of Venezuela, Luis Antonio Villegas Ramírez, indicated that payments in bolivars have increased by 90 % in the country following the elimination of the Tax on Large Financial Transactions (IGTF)
According to the official, the lifting of this tax “is generating a notable increase in the use of the national currency in Venezuela, especially for payments.” He added that transactions in dollars fell to 10 %.
According to Villegas, this dynamic in the national commercial sector reflects “a strategy designed by Nicolás Maduro, within the framework of the National Economic Council, to strengthen the domestic economy.”
This trend toward increased use of the bolivar in transactions extends to e-commerce, where a 55 % growth is expected so far in 2025.
In this regard, the minister emphasized that this increase has been supported by various working groups with the Venezuelan Chamber of Electronic Commerce (Cavecom-e).
M.Pino
Source: elnacional
(Reference image source: Aleksandrs Karevs on Unsplash)
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