May 24, 2022
During the first nine months of the FY2021/22, the Bahamian economy signaled a strong rebound despite the emergence of the COVID-19 Omicron variant, the global supply chain shortages, and increased inflationary pressures resulting from the war in Ukraine. With the expiration of emergency orders in November 2021 and the subsequent full reopening of the Bahamian economy, macroeconomic indicators signaled a rebounding to pre-pandemic levels.
Read MoreMarch 21, 2022
In keeping with the requirements of the Public Finance Management Act, 2021, the Ministry of Finance has released its first monthly fiscal report to the public reporting on the result of Government’s operations for the month of January 2022.
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Feb. 3, 2022
During the first half of the 2021/22 fiscal year, the Bahamian economy continued to demonstrate strong signs of an economic rebound as compared to the same period in the prior year. This mirrors the rebound of global markets and is in spite of the emergence of the Omicron variant of the COVID-19 virus in The Bahamas during the second quarter. National elections in September 2021 resulted in a change of political administration and with it, a shift in Government policies and priorities: the passage of a supplementary budget with direct relief to residents in the form of pension increases …
Read MoreFeb. 3, 2022
The Debt Management Office (the “DMO”) of the Ministry of Finance is mandated under Section 61 of the Public Debt Management Act, 2021 (the “Act”), passed by Parliament in March and enacted in July, to prepare and publish public debt statistical bulletins (“PDSB”), no later than thirty calendar days after the end of each quarter of the fiscal year.
Read MoreJan. 28, 2022
In keeping with the requirements of the Fiscal Responsibility Act, 2018 and the Public Debt Management Act, 2021, the Ministry of Finance has released both the 2021 Fiscal Strategy Report (2021FSR) and the 2021 Medium-Term Debt Management Strategy (2021MTDMS) to the public today on the Ministry of Finance’s Budget website.
Read MoreNov. 15, 2021
First quarter fiscal performance confirmed that the Bahamian economy continues its steady recovery with revenue outcomes exceeding expectations. Gains from the uptake in economic performance were owed to the resurgence in the travel and tourism market worldwide. Further, the combination of successful vaccination strategies, locally and other in countries, are resulting in the loosening of travel and other COVID-19 related restrictions worldwide. Consequently, this cautious and measured paced of opening in the local and global economy has positively supported upticks in domestic business activities.
Read MoreNov. 15, 2021
The Debt Management Office (the “DMO”) of the Ministry of Finance is mandated under Section 61 of the new Public Debt Management Act, 2021 (the “Act”), passed by Parliament on March 26 and effective July 1, to prepare and publish public debt statistical bulletins (“PDSB”), no later than thirty calendar days after the end of each quarter of the fiscal year.
Read MoreAug. 4, 2021
The Government of The Bahamas recently enacted the most progressive procurement legislation in the entire Caribbean region, and is proud of the steps being taken to implement the new provisions starting on September 1. While the Ministry of Finance acknowledges the 2021 Investment Climate report issued by the US State Department –the investor community can be reassured that this Government has not only taken concrete steps to improve the process, but the new Public Procurement Act (2021), is now a standard bearer of modern, progressive procurement standards.
Read MoreJuly 27, 2021
The Government has temporarily suspended the implementation of a Customs processing fee, approved during the 2021/22 budget exercise to allow for additional training and customer education.
Read MoreJuly 14, 2021
The Bahamas demonstrated the strongest level of Foreign Domestic Investment (FDI) receipts among Small Island Development States (SIDS) during what has been described the worst global economic downturn in nearly 100 years. The United Nations Commission on Trade and Development (UNCTAD) released its annual World Investment Report 2021 on June 21, reporting on global and regional FDI trends for the 2020 calendar 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.
Government Revenue Continues to Rebound
May 24, 2022
Ministry of Finance Releases First Monthly Fiscal Report
March 21, 2022
Government Revenue Continues to Rebound
Feb. 3, 2022
