Latest News


Budget By The Numbers

The Budget provides a snapshot of the Government's estimated financial position by evaluating how much money it plans to collect through taxes against how much money it plans to spend on operations, services and special projects.

$2,628M

Total Revenue

$2,765M

Total Expenditure

-$137M

Fiscal Deficit

Fiscal Summary

Details 2018/19 ($M)
Projected
2019/2020 ($M)
Budgeted
Recurrent Revenue 2,413 2,626
Capital Revenue 0 2
Total Revenue 2,413 2,628
Recurrent Expenditure 2,435 2,530
Capital Expenditure 207 235
Total Expenditure 2,642 2,765
Fiscal Deficit -229 -137

What's in the Budget for You?

Individuals and Families

Vouchers for children to attend private pre-school free, and other educational savings. Tax relief in the form of duty free school supplies, small refrigerators and stoves. Duty reductions on home furniture, small cars, electric and hybrid vehicles.

Young People

Millions in capital funding directly for young entrepreneurs. Duty free concession for musical instruments, ideal for marching bands, Junkanoos and other creatives. $20M in increased educational investments for preschoolers to university students.

Family Island Communities

Housing allowances and other money for Family Island students to attend the University of The Bahamas. Millions allocated for infrastructure projects in the Family Islands targeted at renewable energy and airport rehabilitation.

Small Businesses & Investors

Millions allocated for ease of doing business initiatives, including Click2Clear, a new Customs online processing platform, and other modernization reforms to make it easier to deal with tax agencies and the Government on the whole.

The Nation as a Whole

Millions in the Budget to modernize government, including new online platforms to pay customs duties and renew passports. Money for large renewable energy projects to help bring down the cost of electricity in the long term.

It is two years in, and against some extraordinary odds we have delivered stable and steady governance instead of irresponsible and unplanned fiscal management. We secured positive economic growth at 1.6 percent last year, following the persistent economic stagnation that had characterized The Bahamas during the term of the former administration. We delivered a framework for good governance—not with superficial platitudes, but with the power of legally binding mandates."

Budget at a Glance