The Dominican Republic will experience the highest growth rate in Latin America during the five-year period from 2024 to 2028 and will become the third richest country in the region in per capita terms in 2028, according to an analysis by the digital publication Latinvex based on new data from the International Monetary Fund (IMF).
The country is now one of the few in Latin America to have a pro-business president: Luis Abinader, who has won widespread praise for his handling of the COVID pandemic, boosting tourism, fighting corruption and implementing pro-market policies since taking office in August 2020.
While the IMF expects Venezuela and Panama to post the strongest economic expansion this year, the next five years will be dominated by the Dominican Republic (at nearly 5 percent) and
Panama (at 4 percent). Panama is expected to remain the richest country in Latin America over the next five years, but by 2028, the Dominican Republic will likely become the third richest country in Latin America behind Panama and Uruguay, according to IMF projections.
The publication is from Latinvex. Latinvex publishes daily news and weekly analysis on Latin American business, including rankings on the 500 largest companies, top law firms, top 100 lawyers and the best and worst countries in macroeconomic performance, infrastructure, taxes and security.
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