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Dominican Republic: IMF recommends charging more taxes; highlights growth

The International Monetary Fund (IMF) recommended that the Dominican Government make a concentrated adjustment to broaden the tax base and reduce the impact of the electricity sector on the national budget.

In a 62-page report, the IMF indicates that the Dominican economy remains among the most dynamic in the Western Hemisphere, with low inflation and a stable external position, a strong expansion in the last five years that is reflected in an average growth of 6.5% .

But it recommends removing barriers to trade and investment; continue reforms to education, health and the pension system.

He reiterated the need to decisively address outstanding structural weaknesses, including losses in the electricity sector and inefficiencies, both in the goods and labor markets.

It also recommends expanding and strengthening the social security system, which will require additional fiscal space. 

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