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Finance of Dominican Republic

The minimum monthly wage in Dominican Republic is 168 USD. Dominican Republic has a government debt of 77% of the country's Gross Domestic Product (GDP), as assessed in 2012. With regard to consumer prices, the inflation rate in Dominican Republic is 5%. The currency of Dominican Republic is Dominican peso. The plural form of the word Dominican peso is pesos. The symbol used for this currency is RD$, and it is abbreviated as DOP. The Dominican peso is divided into centavo; there are 100 in one peso. Each year, consumers spend around $39,770 million. The ratio of consumer spending to GDP in Dominican Republic is 0.07%, and the ratio of consumer spending to the world consumer market is 11.46%. The corporate tax in Dominican Republic is set at 27%. Personal income tax ranges from 0% to 25%, depending on your specific situation and income level. VAT in Dominican Republic is 18%. In 2013, Dominican Republic received 261.3 million USD in foreign aid.In 2014, the foreign aid amounted to 225.3 USD.

Gross Domestic Product

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Dominican Republic is $138,511 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Dominican Republic was last recorded at $12,727,286. PPP in Dominican Republic is considered to be very good when compared to other countries. Very good PPP indicates that citizens in this country find it easy to purchase local goods. Local goods can include food, shleter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with very good PPP are safe locations for investments. The total Gross Domestic Product (GDP) in Dominican Republic is 60,612 billion. Based on this statistic, Dominican Republic is considered to have a medium economy. Countries with medium economies support an average number of industries and opportunities for investment. It should not be too difficult to find worthwhile investment opportunities in medium economies. The Gross Domestic Product (GDP) per capita in Dominican Republic was last recorded at $5,569,422. The average citizen in Dominican Republic has very high wealth. Countries with very high wealth per capita have an extended life expectancy and very high standard of living. Highly skilled workers can be found in many industries, and labor is very expensive in these countries. Countries with very high wealth offer opportunities for safe investments, as they are often supported by a diverse and thriving financial sector. GDP Annual Growth Rate in Dominican Republic averaged 5.3% in 2014. According to this percentage, Dominican Republic is currently experiencing significant growth. Countries that are experiencing significant growth offer the best chance for a substantial return on investment, as GDP growth rate is the most important indicator of economic health. As GDP grows, business, jobs, and personal income grow as well.