He IDB Group recommends that the Dominican authorities and companies in the financial sector implement policies to support companies «fintech» to expand the financial inclusion and the digital bankingwith the aim of closing gaps in economic and social development.
“If you deepen the financingnew businesses will be supported and the business growth“said the international organization in its most recent BIDeconomics report, titled “Dominican Republic: panorama of opportunities”, in which the country’s resilience stands out, with indicators of prudent macroeconomic policies and structural reforms that have attracted significant foreign investment.
The document highlights that the credit to the private sector granted by banks, as a percentage of Gross domestic product (GDP) in 2023, remained below the average for the Latin American and Caribbean region.
In this sense, the report specifies in the line of business innovation that he credit average allocated to private companies in the country represented 30% of the Gross domestic product (GDP), while in the region it was 47% and in the countries of the Organization for Economic Cooperation and Development (OECD) it was 73% of GDP.
