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Dominican Republic Is #58
Dominican Republic is #58 in Economic Freedom out of 176 Countries.
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Every year the Heritage Foundation, a leading U.S. nonprofit, produces the Index of Economic Freedom Report and ranks how free and open each country’s economy is.
With a score of 62.9, Dominican Republic is classified as
"Moderately Free":
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Improve economic freedom!
Evidence clearly shows that greater economic freedom leads to higher standards of living, increased job creation, improved education and healthcare, greater prosperity, and enhanced environmental stewardship.
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What Does Being “Moderately free” Mean for Dominican Republic?
The Dominican Republic’s “moderately free” classification in the Index of Economic Freedom indicates a balanced but limited level of economic freedom, with moderate government involvement. For the average citizen, this means opportunities for growth and entrepreneurship are present, but still constrained by structural inefficiencies and barriers that can make economic advancement challenging and unpredictable.
What categories doES Dominican Republic DO well in?
To do well ("mostly free") a country must score 70 - 79.9. To classify as excellent ("free") a country must score 80 or higher. Dominican Republic scores relatively well in this areas (scores out of 100):
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Government Spending 88.3
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Tax Burden 84.4
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Business Freedom 75.5
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Investment Freedom 70.0
Solutions
Dominican Republic's three worst performing categories:
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Government Integrity 35.9
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Financial Freedom 40.0
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Labor Freedom 53.3
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The Dominican Republic’s weakest category is Government Integrity, with a score of 35.9 out of 100. This category measures the level of corruption and transparency in the government. For the average Dominican, low government integrity translates into mistrust of public institutions, unpredictable business environments, and frequent bureaucratic obstacles. Practical steps to improve this score include strengthening anti-corruption laws, enhancing transparency in government spending, and implementing accountability measures for public officials, which would help build citizen trust and attract foreign investment.
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Financial Freedom is the second weakest category, scoring 40.0 out of 100. This freedom reflects the extent of government control over financial institutions and citizens' access to financial services. The low score suggests that many citizens struggle with limited access to credit, savings tools, and financial resources, which stifles personal and small business growth. Policy changes to improve this could include incentivizing private banks to expand their services and allowing more foreign competition in the financial sector, which would increase accessibility to financial services for a broader segment of the population.
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The third weakest category, Labor Freedom, has a score of 53.3 out of 100. Labor freedom measures flexibility in labor regulations, such as hiring, working hours, and wage controls. This relatively low score indicates that rigid labor laws could be limiting employment opportunities and making it difficult for businesses to adapt to changing economic needs. To improve labor freedom, the government could reform labor laws to allow more flexibility in hiring and
Dominican Republic's Economic Freedom over time:
