The Ministry of Finance commissioned a study by the Government & Public Policy Institute of the University of The Bahamas to determine the level of growth the country needs to achieve to reverse economic and fiscal trends toward a more sustainable financial future. This study used a Dynamic Computable General Economic Model (DCGEM) to establish a baseline for the country's current economic and fiscal position using historical data from 1989 to 2020. The study considered the Ministry of Finance's medium- and long-term fiscal goals and policy prescriptions outlined in the 2021/2022 Budget Communication and the 2020 Fiscal Strategy Report.

The Pre-Election Economic & Fiscal Update summarizes the government's economic and fiscal performance during the last fiscal year prior to a general election. For FY2019/20, government revenues were $110 million (or 10 percent) higher than budgeted due to a rebounding economy in the second half of the fiscal year.  The publication of this report is mandated by the Fiscal Responsibility Act, 2018.

During the Fiscal Year 2020/21 annual budget, The Bahamas was in the early stages of managing the COVID-19 pandemic while recovering after Hurricane Dorian. To face the challenge of these twin crises, the government proposed the Resilient Bahamas Plan to guide its response.

A digital Bahamas is unquestionably one of the pillars of our economic recovery and, in fact, the economic recovery of every country.

This Mid-Year Budget Performance comes at an unprecedented time in modern Bahamian history.  When The Bahamas is still rebuilding from Hurricane Dorian --  and contending with the persistent threat of the COVID-19 pandemic. To address these challenges, in May of last year, the government brought to the house  its budget for the 2020/21 fiscal year entitled, “Resilient Bahamas: A Plan for Restoration".

This macroeconomic plan was designed to allow the country to successfully weather the ravages of the coronavirus pandemic and to also emerge stronger and more resilient.

A three-year plan to restore the nation’s financial health and build economic resilience beyond the coronavirus pandemic.

Learn more about the Resilient Bahamas Budget Plan, which outlines how and where the government is spending public funds to address the public health crisis and economic fallout.       

During the Fiscal Year 2020/21 annual budget, The Bahamas was in the early stages of managing the COVID-19 pandemic while recovering after Hurricane Dorian. To face the challenge of these twin crises, the government proposed the Resilient Bahamas Plan to guide its response.