Economy April 22, 2023 | 9:07 am

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Dominican Republic: third richest in Latin America in five years, according to Latinvex publication

Miami, United States
The Dominican Republic will experience the highest growth rate in Latin America during the five years from 2024 to 2028. It will become the third most prosperous country in the region in per capita terms in 2028, according to an analysis by the digital publication Latinvex based on new data from the International Monetary Fund (IMF).

The country is now one of the few in Latin America with a pro-business president: Luis Abinader, who has won widespread praise for handling the COVID pandemic, boosting tourism, fighting corruption, and implementing pro-market policies since taking office in August 2020.

While the IMF expects Venezuela and Panama to post the most substantial economic expansion this year, the next five years will be dominated by the Dominican Republic (at nearly 5 percent) and

Panama (at 4 percent). Panama is expected to remain the wealthiest country in Latin America over the next five years. Still, by 2028, the Dominican Republic will likely become the third most prosperous country in Latin America, behind Panama and Uruguay, according to IMF projections.

The publication is from Latinvex. Latinvex publishes daily news and weekly analysis on Latin American business, including rankings on the 500 largest companies, the top law firms, the 100 most essential lawyers, and the best and worst countries in macroeconomic performance, infrastructure, taxes, and security.

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Ramon Garcia
April 22, 2023 10:21 am

A rich country with a lot of poor people. They need to start distributing the wealth more evenly. .

My Name Is Not Important
April 22, 2023 6:32 pm
Reply to  Ramon Garcia

Just like the US. Rich country with poor people.

April 23, 2023 1:16 pm

I do agree this is a rich country but so badly administered. A country with so much potential. Dominican Republic could be a developed country and it has it all to be so but lacks strong political will. The country has advanced in many areas no doubt such as in infrastructure and also now better electrical supply. The revenue from tourism needs to be better distributed and immigration from Haiti needs to slow down (Haitians are bringing in more poverty into the Dominican Republic), and they need to continue to fight against corruption which is the main problem.