DOMINICAN REPUBLIC
Analyst
Magdalena Lizardo
Former Adviser, Ministry of Economy, Planning and DevelopmentDatabanks
Recent Country Insights
No new tax reform proposal will be forthcoming
DOMINICAN REPUBLIC · In Brief · 21 Oct 2024
This afternoon, President Abinader indicated that there is no new proposal for fiscal reform. The government will make all the necessary budget adjustments. He also assured that the government will continue with the implementation of the Fiscal Responsibility Law and the application of the fiscal...
President Abinader to withdraw the Fiscal Modernization Bill from the National Congress
DOMINICAN REPUBLIC · In Brief · 19 Oct 2024 · 3 responses
After facing strong criticism from various sectors of Dominican society, President Luis Abinader has announced that he will withdraw the Fiscal Modernization Bill from the National Congress. He stated that this decision was made because the legislative initiative lacked public support and did not...
Negotiating fiscal reform an uphill battle
DOMINICAN REPUBLIC · Forecast · 17 Oct 2024
The government presented its tax reform proposal, which seeks to increase tax revenues by $2 billion, equivalent to 1.5% of GDP. The tax reform burden will primarily fall on individuals, due to the increase in consumption, income and property taxes, which account for 82% of the additional revenue...
Finally, the Government presented its fiscal reform proposal.
DOMINICAN REPUBLIC · In Brief · 08 Oct 2024
Arguing that the Dominican Republic cannot depend indefinitely on debt to finance public services, and that there is a need for greater spending to fund the provision of public services, the Minister of Finance, Jochi Vicente, presented the fiscal reform proposal yesterday. According to the autho...
The Central Bank lowers the monetary policy rate again
DOMINICAN REPUBLIC · In Brief · 01 Oct 2024
The monetary policy rate in October 2024 will be 25 basis points lower than in the previous month. Yesterday, the Central Bank decided to set the monetary policy rate at 6.50% per year. Additionally, the liquidity expansion facility rate (1-day Repos) is being lowered from 7.25% to 7.00% per year...
Minister of Finance outlines scope of fiscal reform
DOMINICAN REPUBLIC · In Brief · 26 Sep 2024
Although the government has not yet presented the concrete content of its fiscal reform proposal, yesterday the Minister of Finance, Jochi Vicente, outlined the strategy to be followed for increasing fiscal revenues. The fiscal reform would be guided by four key principles: commitment of all sect...
Government announces Public Administration Reform
DOMINICAN REPUBLIC · In Brief · 17 Sep 2024
The government announced yesterday its proposal for restructuring, rationalization, and elimination of duplications in public institutions, a key element of the fiscal reform it has committed to implementing. The goal is to reduce spending and improve efficiency. According to the government, the ...
Government outlines reform proposals for taxes, labor and electricity
DOMINICAN REPUBLIC · Report · 12 Sep 2024
The key draft laws of President Luis Abinader’s economic reform program have been developed in recent weeks, with tax, labor and electrical sector reforms delineated. The proposed new laws are to be sent to Congress for consideration in coming weeks. The goal of the tax reform plan is to incr...
The DR Central Bank reduces its monetary policy rate by 25 basis points
DOMINICAN REPUBLIC · In Brief · 29 Aug 2024
Today, the Central Bank of the Dominican Republic (BCRD) decided to reduce its monetary policy interest rate (MPR) by 25 basis points, decreasing from 7.00% to 6.75% annually. Likewise, the rate of the permanent liquidity expansion facility (1-day Repos) goes from 7.50% to 7.25% annually, while t...