Cumulative GDP growth in the DR is higher than 27% in region

The Dominican economy continues to show signs of good health. According to data from the International Monetary Fund (IMF), the cumulative growth of the Dominican Republic’s Gross Domestic Product (GDP) in the last four years (2018-2022) was 15.5%, which places it at the top of the growth of Central American countries, Panama and the DR itself.

More specifically, from 2018 to 2022 the cumulative economic expansion of our country exceeded by 27% the average growth of the countries of the CAPRD region and even individually by 50% that of Costa Rica (10.4%) and doubled that of Panama (7.3%). Guatemala is the country with the second highest economic development in this period, with a GDP rise of 14.7% while Haiti exhibits a performance consistent with its institutional collapse (-8.3%) since the close of 2018 and accumulates four consecutive years in negative territory.

Economic growth

According to economist Henri Hebrard, the good performance of the Dominican economy, especially in the last two years, is due to the successful management of those responsible for public finances and the correct political decision-making in this area. “The IMF is confirming the data of the Dominican authorities that, although the expected growth will slow down a little, our country will continue to have the best growth rate in the entire region (3.8%). The data also confirms the good expectations of the population with respect to 2023, as reflected in the different surveys”, he assures.Henri Hebrard

On the other hand, the same IMF forecasts that the Dominican Republic will continue to outperform regional growth even with the revisions made recently, which place the GDP indicator with a 4.2% increase at the end of 2023. Looking ahead to the 2024-2025 period, the Dominican economy will reach the 5% growth range consecutively.

On this aspect, Henri Hebrard assures that at world level the risk of economic recession is very low, although international growth forecasts are moderate (2.8%). In this sense, he points out that the expected rise of the Chinese economy (5.2%) will bring positive consequences for the Dominican Republic, especially in related aspects such as trade and logistics.

Source: Hoy.com.do

Learn More: ECONOMY

Advertisements

Leave a Reply

Your email address will not be published. Required fields are marked *

19 + 16 =

Verified by MonsterInsights