What is the outlook for government expenditure?
The Government spends on goods and the provision of services to meet public needs, chief among which are education, healthcare, social protection, defense and public order and safety.
As the public continues to feel the impact of the pandemic and the need to rebuild in Abaco and Grand Bahama remains, the Government plans to maintain spending levels to responsibly protect families, communities and businesses which will in turn, support and accelerate the recovery.
Further reallocations were made to provide funding for The Bahamas Public Parks and Beaches Authority, national security contracts, special economic assistance, salary adjustments, and consultancy services. Such allocations supplement general public services, public order and safety, and social protection. These contributions are essential to building resilience in vulnerable sectors of the economy.
WHAT DOES THIS MEAN? This table shows the amount of money allocated by the Government in the upcoming fiscal year for goods and services. The majority of this spending is for services and utilies, communication, and rent.
What is the Government spending money on?
During times of economic crisis, Governments play a key role in restarting the economic engine of any economy. History has shown that during such times, reducing Government expenditure either worsens the economic downturn or delays the economic recovery. The measures outlined in the FY2021/22 supplementary budget represent targeted spending designed to accelerate the economic recovery but also support the most vulnerable in society. The Government is also mindful of ensuring its spending allows it to meet its obligations of fiscal transparency and accountability in the Fiscal Responsibility Act, 2018.
Click the slider for more information on the key initiatives under the FY2021/22 supplementary budget plan and the FY2021/22 supplementary budget.
Click the image and find a full list of all tariff changes, other tax reductions and revenue movements.