Latin American Economic Outlook 2019

Development in Transition

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Latin America and the Caribbean has seen a remarkable socio-economic progress since the beginning of the century. Countries strengthened their macroeconomic situations, living standards improved, and poverty and inequality declined. Yet, large structural vulnerabilities remain and new ones have emerged. Many of these are linked to countries’ transition to higher income and development levels. The Latin American Economic Outlook 2019: Development in Transition (LEO 2019) presents a fresh analytical approach to the region’s development trajectories. It assesses four development traps relating to productivity, social vulnerability, institutions and the environment. It outlines local opportunities for responding to these traps and seeks ways of improving the interactions and interlinkages between global public goods and national development agendas, all in the context of the United Nations 2030 Agenda. LEO 2019 calls for improving domestic capacities and adopting a new vision of international co-operation as a facilitator to support efforts to achieve sustainable development for all throughout the region.

English Also available in: Spanish

Dominican Republic

The Dominican Republic has improved in several development indicators in the past decades. The country is one of the fastest growing economies. The share of the population living on less than USD 5.5 a day (2011 PPP) fell significantly between 2007-16, from 34.1% to 21.%. The country increased its GDP per capita by more than two-and-a-half times between 1990-2017, but it still lags behind in poverty, unemployment and satisfaction with public institutions. The consolidated middle class remains low and 40.8% of the population lives on USD 5.5-13 a day (2011 PPP). Similarly, while unemployment levels remain in line with the regional average, vulnerable employment represents 40.9% of total employment. The net secondary enrolment rate also remains below average at 66.5%.

English Also available in: Spanish

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