Luis Abinader assures “change is an irreversible reality”

Santo Domingo.– On February 27, 2024, Dominican President Luis Abinader delivered his final accountability speech, corresponding to the presidential term 2020-2024, on the occasion of the Dominican Independence Day anniversary.

In the first part of his speech, the president highlighted the importance of remembering the legacy of freedom and commitment of the founding fathers. He emphasized the progress achieved and the challenges faced during his term.

Abinader recalled the spirit of independence that led to the birth of the Dominican nation 180 years ago, emphasizing the need to keep that same spirit alive in the present to build a prosperous future. He stressed: “Tradition is not the worship of ashes, but the preservation of fire.”

Regarding the achievements of his administration, the president highlighted “the remarkable economic growth” experienced by the Dominican Republic. He pointed out an annual average growth of 6.43% between 2021 and 2023, positioning the country as one of the most dynamic economies in the region. However, he admitted that “last year, even though it was difficult for the world economy, we closed with a growth of 2.4%.”

“Today, I can say that the Dominican Republic is not the same as it was 4 years ago. Change is an irreversible reality,” Abinader said.

In addition, a significant increase in the Gross Domestic Product was reported, reaching 120,629 million dollars in 2023, and a 30% increase in per capita income.

Despite challenges such as the global pandemic and the economic instability derived from international conflicts, Abinader highlighted the country’s resilience and its ability to overcome adversity. In this regard, he announced that the Dominican economy is on a path of sustainable growth, with controlled inflation and favorable projections for 2024, estimating growth between 4.5% and 5.2%.

In terms of investment and foreign confidence, the president reported that the country’s reserves reached a record high of 15,457 million dollars, while foreign direct investment exceeded 4,381 million dollars in 2023. Likewise, the increase in tourism was highlighted, with more than 10 million visitors last year.

In the social sphere, President Abinader mentioned important advances, such as the increase in the minimum wage by more than 40%, the expansion of coverage of public services, and the implementation of a national health insurance for all. In addition, he highlighted the strengthening of basic education and the unprecedented expansion of technical and university education.