Local June 18, 2024 - 8:56 am

Abinader unveils Government actions to double GDP by 2036

Santo Domingo.- On Monday, President Luis Abinader outlined the government’s strategic initiatives aimed at propelling the Dominican Republic towards development, emphasizing the need for commitment and support from all Dominicans.

Vision for 2036

President Abinader revealed the government’s ambitious plan to transform the Dominican Republic into a fully developed country within a decade, targeting a doubling of its GDP by 2036. He highlighted the challenges overcome thus far, including the COVID-19 pandemic, sectoral shutdowns, the Russia-Ukraine war, efforts to curb inflation, and border conflicts.

Economic Leadership and International Recognition

During the “LA Semanal con la Prensa” event held in the Las Cariátides room of the National Palace, President Abinader also underscored the recognition by international organizations of the Dominican Republic’s economic leadership in Latin America.

Path to Full Development

To achieve full development, the president outlined goals such as creating 1.7 million new jobs, tripling the average salary, eliminating extreme poverty, extending life expectancy by six years, increasing investment, and becoming the most prosperous economy in Latin America.

Key Reforms

President Abinader specified that achieving these goals requires reforms in various sectors, including institutions, justice, democracy, infrastructure, energy, fiscal and macroeconomic stability, health, education, labor dynamics, innovation, technology, and business dynamics.

Implemented Actions

The government has already implemented several actions, such as promoting judicial independence, combating corruption, reducing bureaucracy, proposing fiscal responsibility laws, reforming the police and enhancing citizen security, revising customs laws, promoting exports and foreign direct investment, and developing national logistics, urban mobility, and territorial development plans.

Progress in Key Indicators

Statistics indicate significant progress in several areas: access to banking, corruption control, energy regulation, knowledge-intensive employment, international trade openness, state legitimacy, social polarization, debt-deficit dynamics, credit quality, and renewable energy consumption. Other areas of improvement include market-relevant skills, judicial independence, police quality, access to transportation and housing, internet usage, regulatory obstacles, income distribution, average education years, social protection, and energy distribution.

Sectoral Commissions and Actions

Beyond reforms, achieving the development goals will require sectoral and territorial actions, such as establishing a 2035 commission, sectoral committees, detailed plans and schedules, and a results management unit to ensure effective implementation and monitoring of progress.

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