News Releases

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.

Finance Minister implores Bahamians to take advantage of assistance as new budget takes effect

July 1, 2020

Tax concessions included in the 2020/21 Annual Budget take effect today, including the duty reductions on construction material and those put in place to stimulate the fishing and agricultural sectors.

DPM sets the stage for 'interesting and fruitful' Budget Debate

June 8, 2020

Deputy Prime Minister and Minister of Finance, K. Peter Turnquest, deivered the opening statement of the 2020/2021 Budget Debate on Monday, June 8, 2020 in the House of Assembly.

DPM answers media questions at third annual national press conference

May 28, 2020

DPM and Minister of Finance, K. Peter Turnquest, along with Acting Financial Secretary, Marlon Johnson, break down the government's restoration plan for the country at the Annual Budget Press Conference. They also fielded questions from local media on the recent Annual Budget Communication 2020/2021, which was delivered by Turnquest in the House of Assembly on Wednesday, May 27, 2020.

New budget will provide a plan for a resilient Bahamas

May 26, 2020

Peter Turnquest, Deputy Prime Minister and Minister of Finance, assures the Bahamian people that tomorrow's Annual Budget Communication will be a transparent assessment of the country's current economic situation. The public can also look forward to a more dynamic and interactive experience thanks to social media and digital tools. 

Over $120 million allocated for COVID-19 social support and economic stimulus

March 30, 2020

I rise to provide an update on the Government’s stimulus measures to support our citizens during this challenging time. The adverse impact of COVID-19 has touched every single person in the country, and most significantly, the poor and vulnerable amongst us need the support of the Government to cope with the impact. 

Bahamian economy faces huge exposure from the spread of the coronavirus

March 18, 2020

The Coronavirus (COVID-19) has now been declared a pandemic, and concerns continue to intensify as countries around the world take strict and drastic measures to contain its spread.  As you know, The Bahamas has now recorded its first domestic case of the coronavirus, and it is likely that numbers will increase. 

Massive response committed for Hurricane Dorian recovery and restoration

Feb. 10, 2020

Two weeks ago, I presented the supplementary appropriations and borrowing resolution for the 2019/20 Supplementary, or ‘Hurricane Dorian” Budget. Together, those resolutions represent the Government’s revised spending and borrowing plan to rebound from the catastrophic impact of Hurricane Dorian. Today I rise to contribute to the budget debate on behalf of the wonderful people of East Grand Bahama, who’s resilience and faith in equity and fairness has been tested, battered by winds of loss and change and savaged by seas of tumult and uncertainty, but yet remain proud, strong and expectant.

Govt revises budget estimates for Hurricane Dorian response

Jan. 30, 2020

Three months ago, Hurricane Dorian significantly changed the course of our lives. Characterized as the second strongest storm to ever cross the Atlantic Ocean, this catastrophe was nothing like we have ever seen before. Although the devastation caused by the monster storm was concentrated in the islands of Abaco and Grand Bahama, its broader socio-economic severity has rattled the very core of our nation and people.