Abinader reviews 2025 budget guidelines

Santo Domingo.- President Luis Abinader and Vice President Raquel Peña led a Council of Ministers and Directors meeting on Thursday to discuss the main parameters and guidelines for the 2025 budget. The government aims for a 5% growth rate by 2025, aligned with the budget guidelines. This information was provided by Minister of the Presidency Joel Santos at the end of the meeting at the National Palace, which lasted an hour and a half.

Government Priorities

Santos outlined the new budget’s priorities, focusing on education, health, the Integrated Transportation System, completion of metro line 2C, extensions of metro lines 1 and 2, and the completion of the Santo Domingo Oeste cable car and the Metropolitan Train.

“The government has until October 1 to present the budget. A Government Council meeting will be held before then to review it, after which it will be sent to the legislative chambers,” Santos stated. He also reported a 5% growth and inflation estimated at 4%, within the base range of +1-1%.

Roadworks

High-priority road projects include the Plaza de la Bandera, traffic improvements between Jacobo Majluta and Los Proceres avenues, and the expansion of the Presidente Peynado bridge. “Additionally, efforts will focus on Police Reform and the 911 National Emergency System, which will play significant roles in the 2025 budget,” Santos added.

Monetary Poverty

Santos noted that monetary poverty decreased from 24.2% in the first quarter of 2023 to 18.9% in 2024. In the first quarter of 2019, it was 26.1%. This reduction was seen across rural and urban areas and at the gender level.

Employment

Regarding economic employment, Santos reported a 3.6% reduction in unemployment from one quarter to the next, with a 75% increase in formal jobs. Real wage growth in the same period rose by 8.6%, and nominal wage growth by 12.2%. Santos emphasized the social programs’ critical role in fostering greater equity in the Dominican economy.