Santo Domingo—The ABA recognizes that the country has challenges in various external and internal aspects that could be adverse.
The Association of Multiple Banks of the Dominican Republic (ABA) expressed its confidence that the Dominican economy will remain resilient this year in the face of the challenges that the country faces in various aspects of national life and international scenarios that could be adverse, depending on the markets and geopolitical conflicts.
In its magazine Abance, the union expressed its optimism in the face of the critical challenges of 2024, a year in which it understands that it must continue “promoting the post-pandemic economic recovery process, with controlled inflation and a vibrant economy growing around its potential.” .
The second edition of the ABA editorial product also describes the multiple banking trends to promote financial inclusion and credit to households and productive sectors in a sustainable manner.
It also includes considerations from economist Henry Hebrard and the executive vice president of the National Council of Private Enterprise (Conep), César Dargam, who agree in projecting a more significant increase in the Gross Domestic Product (GDP) of the Dominican Republic than that achieved in 2023, with an improvement in other macroeconomic and financial indicators.
For economic analyst Hebrard, the Dominican economy could grow 5.5%. For his part, Dargam also expressed his confidence that economic activity will resume its potential growth rate.
The execution of public spending, the course of the presidential, legislative and municipal elections, the low projection of global growth and international geopolitical conflicts are some of the factors that will affect the evolution of the economy this year, they said.
They agree that the tax reform is one of the biggest unknowns that the administration that takes office on August 16 must clear up.