Presented by The Ministry of Finance

Our Priorities

Budget Priorities Snapshot

From the House of Assembly to your home, learn about the Government's Accelerate Bahamas plans to boost economic growth and continue its support of the most vulnerable.

'ACCELERATE BAHAMAS' OBJECTIVES

To Accelerate Economic Growth

Accelerate Bahamas’ focus on private sector expansion will unlock the potential of SMEs and entrepreneurs to set us on a path to inclusive and sustained economic growth.

To Advance Fiscal Responsibility Reforms

Accelerate Bahamas will advance the steady march of our government reform agenda to facilitate economic growth.

To Sustain Targeted Social Support

Accelerate Bahamas will continue targeted social support for the most vulnerable who are still contending with the impact of Hurricane Dorian and the fallout of the COVID-19 pandemic.

Why 'Our Priorities' are wise investments

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Job Creation

Creating opportunities for employment

Maintaining and expanding employment opportunities through tax credits for businesses that are hiring and expanded duty concessions for small businesses.

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Small Business Development

Increasing financing and concessions for small businesses

Supporting small and medium-sized business (SME) growth through increased financing and new tax free zones.

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Healthcare Improvements and Vaccinations

Improving infrastructure, expanding healthcare access and continuing COVID-19 support

Continuing public healthcare support with historic investments in public health infrastructure and targeted vaccination initiatives.

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Tourism Development

Formulating a plan to leverage high demand.

Enhancing the Bahamian tourism product to allow for home-porting while increasing small and medium-sized business participation in the sector.

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Public and Private Sector Investment

Improving the framework for public sector, quality domestic and foreign direct investment

Improving the country’s national investment framework by transforming public sector financing and updating the national investment scheme.

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Digitization and Innovation

Accelerating the pace of digital transformation

Continuing to accelerate the digitization of government services to improve accessibility, service delivery and revenue collection.

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Fiscal Responsibility

Increasing revenue and offsetting losses with new revenue streams

Maintaining a focus on fiscal reform while ensuring responsible debt management and focusing on new areas of revenue generation.

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Circumstances beyond our control may have shifted out immediate priorities and related initiatives, but our economic vision for the nation remains the same: An economy that is resilient, inclusive, dynamic and sustainable."

ABOUT

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.