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Country reportsJanuary 3

Robust growth ahead for Dominican Republic

The Dominican Republic registered one of the best growth rates for Latin America and the Caribbean’s larger economies in 2022, and, while 2023’s will be lower, the country has strong macroeconomic fundamentals and a diversified economy.
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Robust growth ahead for Dominican RepublicSteady state: the Dominican Republic has strong macroeconomic fundamentals and a diversified economy. Image: Getty Images

In 2023, the Dominican Republic will see its slowest non-Covid-19-pandemic growth in more than a decade, but the weaker number is not troubling anyone. 

The International Monetary Fund (IMF) estimates growth for the year at 3%, down from 4.9% in 2022. The country registered one of the best growth rates for Latin America and the Caribbean’s larger economies in that year, and 2023’s lower figure will still come in above the IMF’s regional average of 2.3%.

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