The president of the Dominican Republic, Luis Abinader, has won re-election with a large majority. However, he faces challenges on the economic and social fronts. The local economy is projected to grow by 5% this year and double that in 2023, making it one of the fastest-expanding economies in the region. However, social debts, inequalities, a deficient health system, and the expansion of the informal economy persist in the country. General poverty stands at 23.0%, with extreme poverty at 3.2%.
Despite these challenges, Abinader expressed optimism about the country’s future during his campaign. He promised to implement fiscal reform and address other pending reforms such as social security system. However, a tax reform plan he presented when he first came to power was scrapped due to criticism. Local economists believe now is a good time politically and economically to implement fiscal reform.
Ahead of assuming his next administration in August, Abinader emphasized the importance of discussing and reaching consensus on these reforms with other political forces. While progress has been made in sectors like tourism, foreign direct investment, and remittances, generating quality jobs and improving access to basic goods and services remain key priorities. Corruption, judicial delays, citizen insecurity are still significant issues for Dominicans which need to be addressed by Abinader’s administration. International organizations recommend improving access to quality education, health