He finance minister, Magin Diazstated this Wednesday that the Dominican Republic goes through a economically challenging yearconditioned by the international situation.
However, the official assured that the country maintains stability and perspectives of growth by 2026.
During a meeting with businessmen of SantiagoDíaz explained that 2025 has been a difficult year for the dominican economyalthough he highlighted that the country will close with growth close to 3%, “a figure lower than what we are used to, but equal to the average for Latin America.”
He explained that the international trade rules changed and interest rates in USA have remained high for a long time, “which has affected us.” “Still, we are one of the stronger economies of the region,” he stressed.
The minister expressed optimism regarding the coming year, noting that both the International Monetary Fund (IMF), the World Bank as the Dominican authorities themselves foresee that the country will resume its historical growth rate of around 5%.
Dependence on the US economy
Díaz stressed that the Dominican Republic depends largely on the economic policy of USAthe country’s main trading partner.
He indicated that 85% of remittances, 40% of tourism and 73% of exports from free zones come from or go to that country.
“In the face of all this international uncertaintyOf course we are affected, but there are also positive signs. USA is taking steps to boost your economyand that will end up benefiting us,” he noted.
Tax reform and priorities of Government
Asked about the possibility of a tax reformthe minister said that the issue will be discussed at the time with the President Luis Abinader.
He pointed out that the Government faces a “budget constraint strong“.
“I would like there to be more resources for investment and infrastructurebecause there are many needs. But what we are going to do will always be what is politically and socially viable. The important thing is to maintain the social peace“he assured.
Díaz explained that the objective of Government is to guarantee the stability economy of the country, while seeking mechanisms to sustain the social spending and the public investment.
The minister offered these statements before participating in a conversation with entrepreneurs and leaders opinion of Santiagowhere he presented the main challenges and perspectives of the dominican economy. The meeting was held in the Health Sciences auditorium of the campus Santiago of the Pontifical Catholic Mother and Teacher University (PUCMM).
