SANTO DOMINGO – In a pivotal step to shore up the Dominican Republic’s economic standing amid escalating global financial volatility, President Luis Abinader has formally enacted Law 30-26, following the legislation’s successful passage through the National Congress this Thursday.
The new law introduces a broad package of policy measures crafted to drive broad-based economic growth, reinforce the country’s public financial framework, and cushion the Dominican economy against spillover shocks from the ongoing international economic downturn. Government officials outlined that the legislation is centered on advancing long-term sustainable development, raising living standards for the country’s citizens, and laying the groundwork for inclusive, consistent social and economic progress across all sectors.
A core component of Law 30-26 centers on upgrading public resource governance, embedding stronger standards for responsible stewardship of state funds. It also introduces reforms to the national tax system that prioritize equity, aligning tax obligations with taxpayers’ ability to pay and upholding progressive taxation principles while encouraging broader voluntary compliance.
Dominican authorities emphasized that the timing of this regulatory reform is deliberate, coming as the global economy faces mounting uncertainty across financial and commodity markets. From the government’s perspective, strengthening fiscal discipline, guaranteeing the long-term sustainability of public finances, and maintaining consistent, predictable economic policy management are non-negotiable priorities in the current climate. Officials reaffirmed that sustained fiscal and economic stability is the foundation for retaining investor confidence, expanding job opportunities for Dominican workers, and boosting the state’s ability to proactively address both emerging domestic economic shifts and unforeseen international challenges.