The Dominican Republic goes through a solid economic moment that could turn it into a developed economy in the next five to ten years, according to the former Minister of Finance of Chili, Felipe Larrain. The economist assured that the country maintains a “high and sustained” growth rate above the rest of Latin America, with a projection of more than 4.5% for next year.
During his intervention in a conversation about the contemporary economic context in Santo Domingo, Larrain highlighted several pillars that strengthen Dominican performance: a low level of inflationthe autonomy of Central Bank, political stability and social, and a development plan towards 2036 with “achievable” goals in terms of development.
The economist also highlighted the increase in GDP per capitathe drop in unemploymentthe reduction of informality and poverty, as well as the country’s low levels of credit risk compared to other emerging markets.
These indicators, he stated, place Dominican Republic in a modern important that can allow it to become a developed economytaking into account the context of political stability and social life.
Their recommendations
Larrain raised four recommendations aimed at continuing to strengthen the institutions:
- Maintain a efficient tax rule,
- Establish a Autonomous Fiscal Council for inquiries,
- Create sovereign funds
- Consolidate a medium and long-term fiscal framework.
Also participating in the meeting were finance minister and Economy, Magin Diazwho explained the importance of having this vision that puts the performance of the company into perspective. Dominican Republic in front of global context.
Víctor-Ito-Bisonó, Minister of Industry, Commerce and MSMEs and president of the Center for Analysis for Public Policies (CAPP) thanked the speaker and described the Dominican Republic like a stable country“dynamic, peaceful, attractive for investment and protagonist of the most vigorous growth on the continent.”
He conversation It took place in the Jesús María Troncoso room of the Central Bank of the Dominican Republic and was organized by Treasury and Economy together with the CAPP.
Speaker’s career
Felipe Larrainrenowned Chilean economist, is PhD in Economics for the Harvard University and commercial engineer from the Pontifical Catholic University of Chili.
Was finance minister of Chili in two periods (2010-2014 and 2018-2019) and has been distinguished as “Best finance minister of Latin America” (2010) and “Chilean Economist of the Decade” (2025).
He has advised 15 governments and worked as a consultant for the Inter-American Development Bank (IDB), the World Bankhe International Monetary Fund (IMF), the Economic Commission for Latin America and the Caribbean (ECLAC) and the United Nations (UN).
He led the issuance of the first sovereign green bond of the Americas in 2019 and is an author, editor and academic with more than 10 books published in Latin America, the United States, Europe and Asia.
