Santo Domingo, September 26, 2024 — The Dominican Republic has become one of the fastest growing economies in the international arena, surpassing other Latin American countries, according to the latest statement from the Banco Central de la República Dominicana (BCRD) . In August 2024, the country experienced a 5.1% increase amid a turbulent global economic landscape.
The monthly index of economic activity (IMAE) recorded an expansion of 5.6% in August, demonstrating the ability of the Dominican economy to withstand global uncertainties, such as conflicts in the Middle East and tensions in Europe 'East. Despite these data, the government's monetary and fiscal policy has been effective in keeping inflation under control, located below the rate of 4.0% ± 1.0%.
The data also highlighted growth in key sectors, such as construction, which grew 6.9% in August, and manufacturing in free zones, which grew 8.1%. These logos have allowed the Dominican Republic to position itself favorably in regional growth initiatives, with the expectation of continuing this momentum until the end of 2024.
With these results, the country has not only established itself as an economic growth leader in the region, but also demonstrates the strength of its macroeconomic fundamentals and the flexibility of its production system.
