The president of the Dominican Republic, Luis Abinader, highlighted the "success" of the country's economy, which achieved a growth of 5% last year, double the average in Latin America, breaking records in key sectors such as tourism and free zones, and emphasizing the importance of rare earth elements.
During his accountability speech before the National Assembly, Abinader expressed his goal to double the gross domestic product (GDP) and achieve a per capita income of 15,000 dollars in the coming years, which would turn the country into one with middle and high incomes, thus increasing the middle class.
The president mentioned the projections of the International Monetary Fund (IMF), which consider the Dominican Republic as one of the most attractive countries in the region for investment, highlighting social peace and the country's reform agenda as key factors for its economic growth potential.
Abinader emphasized the dynamism of tourism, which generated over 10 billion dollars in foreign exchange last year, as well as in exports and foreign direct investment. In addition, he pointed out that 165,000 new formal jobs were created, of which 47% are held by women.
Regarding economic data, the president highlighted that the expanded unemployment rate has reached its lowest level in history, standing at 9.4%, and poverty has significantly decreased between 2023 and 2024.
Abinader also emphasized the economic potential of rare earth elements for the manufacture of various innovative products, specifically mentioning the exploration conducted in Pedernales. He stressed that, if its viability is confirmed, the exploitation of these minerals would be a source of progress for the Dominican population.
Finally, the president expressed his concern about the situation in Haiti, declaring the armed gangs that provoke violence in the neighboring country as terrorist organizations. He stated that no act that endangers the security and peace of the Dominican Republic will be tolerated, and assured that those who enter the country from those gangs will be pursued and tried according to anti-terrorism laws.
