Presented by The Ministry of Finance

Prime Minister Hon. Philip Davis

A Budget for Security and Progress, Budget 2023. The Prime Minister's 2023 Budget Communication, Wednesday, May 31, 2023, at 10 AM EST.

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A Budget for Security and Progress

The ''Budget 2023: A Budget For Security and Progress'', has been carefully crafted by the Davis Administration as a response to the pressing economic, social, and environmental issues confronting the Bahamas and the Bahamian people. It is designed to build resilience and pave the way towards a brighter tomorrow. 

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BUDGET BY THE NUMBERS

The 2023/2024 budget continues to build on proven result-driven policies, while establishing key new initiatives that will better the lives of Bahamians. The pillars of national security, economic security, and social security represent our vision of a secure, prosperous, and fair society.

$3.3 Billion

2023/24 REVENUE ESTIMATE

This budget focuses on more effective collection measures as economic activity continues to strengthen due to robust levels of tourism.

$3.5 Billion

2023/24 EXPENDITURE ESTIMATE

The government is taking a holistic approach towards growth by investing in resilient infrastructure through private public partnerships, while adhering to prudent spending measures to accomplish the priorities of this budget.

$131.1 Million

2023/24 PROJECTED DEFICIT

The reduction in the fiscal deficit reflects more prudent financial management in line with targeted medium-term fiscal goals.

BUDGET FOR SECURITY & PROGRESS

2023/2024 Budget Priorities

Strengthening the Public Finances

Investing in Infrastructure

Combatting the Cost of Living

Investing in Education and Skills

Investing in the Youth, the Arts, and Sports

The Budget Debate is live broadcast during the month of June. Tune in for live coverage, or connect with the Ministry of Finance for the highlights. As each Cabinet Minister contributes to the Debate, details of the ‘Resilient Bahamas’ plan will be updated.

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Strengthening Climate Resilience

Building Better Healthcare

Creating more Opportunities for Homeownership

The Budget Debate is live broadcast during the month of June. Tune in for live coverage, or connect with the Ministry of Finance for the highlights. As each Cabinet Minister contributes to the Debate, details of the ‘Resilient Bahamas’ plan will be updated.

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Improving National Security

Improving Food Security

Protecting the Most Vulnerable in Society

The Budget Debate is live broadcast during the month of June. Tune in for live coverage, or connect with the Ministry of Finance for the highlights. As each Cabinet Minister contributes to the Debate, details of the ‘Resilient Bahamas’ plan will be updated.

Learn More