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The economic growth of the Dominican Republic has tripled the regional average over the past two decades, resulting in 2.8 million people rising out of poverty, a middle class that now surpasses the poor population, and an improvement in the quality of life in terms of access to basic services, housing, and education.
The economy of the Dominican Republic is the seventh largest in Latin America, and is the largest in the Caribbean and Central American region.
6 ημέρες πριν · National Territory—Accelerating the Dominican Republic’s economic growth to double its gross domestic product by 2036 is one of the government’s cardinal objectives.As Vice President Raquel Peña stated during her conference “Business and Political Leadership in the Current Context,” this translates into improvements in the quality of life of all Dominicans.
After shrinking 6% in 2020, the country’s GDP leaped up by 12% in 2021 and grew nearly 6% in 2022, which is at the high end for the region. Remittances increased nearly 50% in 2021 compared to pre-pandemic highs, keeping the economy afloat until tourism rebounded and FTZs revived.
There are two main government agencies responsible for attracting foreign investment, the Export and Investment Center of the Dominican Republic (known as ProDominicana) and the National Council of Free Trade Zones for Export (CNZFE).
26 Ιουλ 2023 · Despite encountering challenges, such as the debt crisis of the 1980s, the Dominican Republic’s economy has been converging at a faster rate. The convergence velocity has increased from an average of 3 percentage points per decade over the last 50 years to almost 8 percentage points per decade more recently.
Dominican Republic Global Economic Prospects examines trends for the world economy and how they affect developing countries. The report includes country-specific three-year forecasts for major macroeconomic indicators, including commodity and financial markets.
