Abinader confident in Peso stability and economic growth

Santo Domingo.- President Luis Abinader affirmed that there are no structural reasons for a significant depreciation of the Dominican peso, citing a current account deficit of 3.3% of GDP in 2024, fully covered by foreign direct investment (FDI) exceeding US$4.5 billion. He noted that foreign currency inflows reached US$43.8 billion last year and are projected to rise to US$45.6 billion in 2025.

Speaking at the American Chamber of Commerce (AmchamDR) luncheon, Abinader highlighted the country’s 5% GDP growth in 2024—double the Latin American average. He emphasized that continued economic stability and reforms have positioned the Dominican Republic as the leading FDI recipient in Central America and the Caribbean. His goal is to expand the middle class from 40% to 50% of the population.

Abinader also pointed to strong export growth, surpassing US$13.8 billion in 2024, with projections exceeding US$17 billion within four years. He underscored the potential of the country’s rare earth mineral reserves, estimated at 100 million tons, which could drive further economic expansion once exploitation projects begin next year.