The Dominican Republic’s Non-Financial Public Sector (SPNF) debt has surged by US$8.06 billion between 2021 and June 2024, reflecting a substantial 16.9% increase, according to the latest data from the General Public Credit Agency, as published in El Caribe.
As of 30 June 2024, the total debt stood at US$55.73 billion, up from US$47.67 billion in 2021. This figure encapsulates the total amount owed by the government and other public sector entities to both domestic and foreign creditors.
A breakdown of the data reveals that external debt grew by US$5.43 billion, or 16.3%, during the period under review. This was primarily driven by a US$5.43 billion increase in the Government Central’s external debt. Conversely, domestic debt rose by US$2.62 billion, representing an 18.3% increase.
While external debt now accounts for 69.6% of the total SPNF debt, its share has slightly decreased compared to 2021. Meanwhile, domestic debt’s share has increased to 30.4%.
The growth rate of the SPNF debt has shown a decelerating trend in recent years. Between 2021 and 2022, it expanded by 8.8%, followed by a 5.7% increase from 2022 to 2023. However, from 2023 to June 2024, the growth rate slowed to 1.6%.
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El Caribe
15 August 2024