DR1 Daily News - Dominican Republic

The Ministry of Economy & Planning publishes its June update with economic indicators and outlook.

Here are the main points on the Dominican Republic economy:

The Dominican economy expanded by 7.8% year-on-year in April 2024, accumulating an average growth of 5.1% so far in 2024.

The Dominican Republic is experiencing remarkable convergence in per capita income with the US, with its per capita income now 32% of the US level, higher than the Latin American average.

The economy is expected to grow at its potential rate of 5% in 2024, with inflation within the target range. The Central Bank is committed to maintaining price and exchange rate stability. The Central Bank has the sufficient reserves to compensate for any depreciation, but the influx of hard currency continues at a good pace — remittances, FDI, tourism receipts, exports.

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