Abinader leads Council of Ministers

Santo Domingo.- In the forty-fourth Council of Ministers, Dominican President Luis Abinader and Vice President Raquel Peña reviewed the nation’s economic profile, focusing on achievements that Minister of the Presidency José Ignacio Paliza highlighted. Paliza noted that the Dominican Republic currently leads Latin America in growth, with 5.6% growth in August and a cumulative 5.1% this year. Inflation remains steady within the 4% target, while international reserves exceed $14 million, and the deficit is only 1.4% of GDP, mirroring last year’s rate despite it being an election period, where fiscal prudence is often sacrificed.

Paliza underscored improvements in international rankings for transparency, justice, and political stability. According to Transparency International and the World Economic Forum, the country has advanced significantly—up 61 positions in justice, 29 in transparency, and 40 in political stability. These advances align with anticipated constitutional reforms aimed at ensuring clearer political processes and enhanced stability.

Social progress has also been evident, with the Dominican Republic climbing 26 positions in social mobility, 31 in institutional quality, and 17 in regulatory standards. Poverty reduction remains a priority, as food insecurity has dropped from 8.3% to 4.6% over the last four years. Paliza emphasized an optimistic outlook for 2024 and 2025, driven by these economic and social indicators, fostering a strong foundation for future national development projects.