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Revenue uptick continues as economy slowly opens

May 5, 2021

Third quarter fiscal results confirmed that the Bahamian economy, although still below pre- crisis performance, is steadily progressing along the path of recovery. The positive impact of the gradual relaxation of health and safety restrictions on domestic businesses was evidenced in improved revenue receipts, with aggregate revenue collection through the nine months review period positioning at nearly 70 percent of the annual budget.

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MID-YEAR BUDGET STATEMENT ON THE SIX MONTHS ENDING DECEMBER 31, 2020

Feb. 24, 2021

Mr. Speaker,
This Mid-Year Budget Statement is presented at an unprecedented time in modern

Bahamian history.
It comes at a time when The Bahamas is still rebuilding from Hurricane Dorian -- when, the country is contending with the persistent threat of the COVID-19

pandemic.

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Monumental shifts ahead for public financial management

Feb. 10, 2021

In keeping with its commitment to reform public finance management in The Bahamas, the Government tabled a suite of new legislation in the House of Assembly today that will usher in new levels of transparency and accountability. 

 

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Midyear budget report shows anticipated macroeconomic shock of global pandemic

Feb. 1, 2021

The shock of the coronavirus pandemic on macroeconomic conditions continues to be seen in the government’s budget performance, according to preliminary estimates published in the Midyear Fiscal Snapshot and Budget Performance Report for FY 2020/21. 

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Govt looking beyond tax reform with a focus on economic growth

Feb. 1, 2021

COVID has thrown the entire world into crisis; no country has been spared the significant human, social, and economic toll. Notwithstanding, the recently published International Monetary Fund (IMF) Staff Report for the 2020 Article IV Consultation acknowledges that the Government's handling of the coronavirus pandemic and its articulated macroeconomic plans have produced notable results when it comes to saving lives and minimizing the fall-out.

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IMF affirms Govt’s timely and appropriate COVID-19 response

Jan. 27, 2021

The recently published Concluding Statement from the Executive Board of the International Monetary Fund (IMF) provides further indication that the Government’s fiscal policy responses and economic management are producing results in keeping with global best practices.  
 

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Cabinet approves further extension on SERZ tax breaks for Grand Bahama and the Abacos

Jan. 12, 2021

The Ministry of Finance is pleased to announce the expansion of tax relief measures under the Special Economic Recovery Zone (SERZ) Extension Order for the islands of Grand Bahama and the Abacos. 
 

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Restoring fiscal stability depends on safe reopening of economy

Oct. 30, 2020

The necessary reinstatement of curfews and lockdowns for the entire month of August exerted significant pressure on the country’s fiscal position in the first quarter of the 2020/21 Fiscal Year (FY), according to preliminary estimates published in the First Quarter Fiscal Snapshot and Report for FY 2020/21.

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MINISTRY OF FINANCE COVID-19 UPDATE

Sept. 10, 2020

Today, I will present an update on the fiscal and economic plan that the Government is currently implementing; this is the Resilient Bahamas Plan outlined during the budget exercise in June to respond to the ongoing coronavirus (COVID-19) pandemic. The report will include initial data and preliminary analysis on the first few months of the new fiscal year, and a full report to the House of Assembly, and the Bahamian people, based on our end of year budget performance for the 2019/20 fiscal year.

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Minister's Report on Fiscal State of Affairs

Sept. 9, 2020

Today, I will present an update on the fiscal and economic plan that the Government is
currently implementing; this is the Resilient Bahamas Plan outlined during the budget exercise
in June to respond to the ongoing coronavirus (COVID-19) pandemic. The report will include
initial data and preliminary analysis on the first few months of the new fiscal year, and a full
report to the House of Assembly, and the Bahamian people, based on our end of year budget
performance for the 2019/20 fiscal year.

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The budget website is inspired by a worldwide movement towards citizens budgets. Presented by the Ministry of Finance, it is a visual, interactive and less-technical version of the annual budget that promotes accessibility, inclusion, transparency and accountability.