New York.- President Luis Abinader emphasized that the Dominican Republic has achieved significant economic growth over the past fifty years, with an average annual growth rate of around 5%, resulting in a gross domestic product (GDP) exceeding $130,000 million. This makes the Dominican Republic the seventh-largest economy in Latin America and the Caribbean.
Abinader noted that the country’s macroeconomic stability has created a favorable business climate, attracting substantial foreign direct investment (FDI), which has accounted for nearly 4% of GDP in recent years—one of the highest rates in the region. This positive outlook has been recognized by major credit rating agencies such as Fitch, Standard & Poor’s, and Moody’s, all of which have recently upgraded their ratings or outlooks for the Dominican Republic. Additionally, the country’s lower risk rating on the Emerging Markets Bond Index (EMBI) compared to other nations with investment-grade ratings has resulted in reduced borrowing costs.
Speaking at the Conference on Infrastructure Investment in Latin America and the Caribbean, hosted by the Development Bank of Latin America and the Caribbean (CAF) and the Financial Times, Abinader pointed to the Dominican energy sector as a key area for investment, with plans to invest around $5,400 million in the coming years to enhance electricity generation, transmission, and distribution. The country aims to achieve a surplus by 2027, potentially enabling the sale of electricity to Puerto Rico via an underwater cable, and to reach 30% renewable energy generation by 2030.