UNDP: Dominican Republic advances 60% of Agenda 2030, but needs acceleration

The United Nations Development Program (UNDP) has published research on the progress made by countries toward achieving the Sustainable Development Goals (SDGs) with seven years remaining to meet the 2030 Agenda. According to the study, the Dominican Republic has reported a 62% advance in achieving the SDGs and has even recovered its pre-pandemic growth trend.

The report notes that the Dominican Republic’s economy is on a path of recovery in 2023 and is projected to accelerate in 2024-2025. This growth rate is 60% higher, on average, than the global figure and aligns with the country’s pre-pandemic growth trajectory. UNDP predicts that this economic expansion will have a moderate positive impact on poverty reduction, with general monetary poverty decreasing to 27.7% in 2022, and extreme monetary poverty at 3.8%.

The study also indicates that, under the current trend, the country could achieve the goal of “zero poverty” by 2050. However, by incorporating SDG accelerators in development interventions, the number of people living in poverty could be reduced 10 years earlier.

To accelerate the execution of the 2030 Agenda, UNDP recommends a series of actions, acknowledging that the country’s credit rating in the “speculative non-investment grade” category could slow down the growth achieved. It suggests exploring innovative financing alternatives and mechanisms to better redistribute resources and reduce negative impacts on the poorest households.

The UNDP lists possible investment options, including climate financing, mixed and public-private financing, enhancing the business environment and investment aligned with the SDGs, access to financial markets and insurance, remittances, and philanthropy.

While highlighting progress in the Dominican Republic, such as the promulgation of the Territorial Planning Law, the Ten-Year Health Plan, and inclusive industrialization, the report also notes ongoing challenges related to inequality, informality, and the professionalization of the workforce.

The Sustainable Development Goals are a universal call to action to end poverty, protect the planet, and improve the lives of people worldwide. They encompass various objectives, including ending poverty, ensuring clean water and sanitation, addressing climate action, and promoting peace and justice.