Omar Fernández presents economic vision at Harvard Kennedy School conference

Cambridge, Massachusetts.- Senator Omar Fernández participated this past weekend in the Latin America Conference Unfiltered at the Harvard Kennedy School, where he shared his vision for strengthening the Dominican Republic’s economy and ensuring that growth translates into real benefits for citizens.

During his remarks, Fernández stressed that economic expansion must result in improved wages and greater social mobility. He presented his legislative agenda, More for the Dominican Republic, a package of proposals designed to promote development in strategic sectors—particularly micro, small, and medium-sized enterprises (MSMEs)—while preserving political stability.

The senator highlighted the importance of adopting new technologies, expanding access to financing, and fostering competition as key drivers of productivity and sustainable growth. He also raised concerns about high levels of tax evasion, particularly related to the ITBIS (Value Added Tax), which he noted currently exceeds 50%.

Fernández argued that before increasing taxes on basic goods, the State should focus on strengthening tax collection and reducing evasion, with the goal of lowering it to approximately 32%. He emphasized that protecting investment and employment is essential for small, open economies like the Dominican Republic’s, and warned that economic reforms must balance cost-of-living concerns with institutional continuity.

According to Fernández, growth strategies lacking broad political support are difficult to implement effectively, underscoring the need for consensus-driven reforms that ensure long-term stability.