Presented by The Ministry of Finance

Prime Minister Hon. Philip Davis

CHANGING THE STATUS QUO, CHANGING LIVES. The Prime Minister's 2024/25 Budget Communication, Wednesday, May 29, 2024, at 10 AM EST.

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A Budget for Security and Progress

The ''Budget 2024: Changing The Status Quo, Changing Lives'', has been carefully crafted by the Davis Administration as a response to the pressing economic, social, and environmental issues confronting the Bahamas and the Bahamian people. It is designed to build resilience and pave the way towards a brighter tomorrow. 

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BUDGET BY THE NUMBERS

The 2024/2025 budget continues to build on proven result-driven policies, while establishing key new initiatives that will better the lives of Bahamians. The pillars of national security, economic security, and social security represent our vision of a secure, prosperous, and fair society.

$3.54 Billion

2024/25 REVENUE ESTIMATE

This budget focuses on enhancing the well-being of Bahamians, increasing foreign direct investment, addressing VAT underperformance on real estate transactions, and fostering a competitive business environment.

$3.61 Billion

2024/25 EXPENDITURE ESTIMATE

The expenditure estimates focus on prudent fiscal management, maintaining expenditure controls, improving state-owned enterprises, and funding infrastructure and public sector innovations to reduce costs and improve financial reporting.

$69.8 Million

2024/25 PROJECTED DEFICIT

The primary balance shows a surplus of $586.9 million or 3.9% of GDP.

BUDGET FOR SECURITY & PROGRESS

2024/2025 Budget Priorities

Prudent Fiscal Management

Revenue Enhancement

Expenditure Control

State-Owned Enterprises (SOE) Reform

The Budget Debate is live broadcast during the month of June. Tune in for live coverage, or connect with the Ministry of Finance for the highlights. As each Cabinet Minister contributes to the Debate, details of the ‘Resilient Bahamas’ plan will be updated.

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Public Financial Management Act Compliance

Capital Expenditure

CloudBahamas ERP System

Fiscal Responsibility Council

The Budget Debate is live broadcast during the month of June. Tune in for live coverage, or connect with the Ministry of Finance for the highlights. As each Cabinet Minister contributes to the Debate, details of the ‘Resilient Bahamas’ plan will be updated.

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Public Sector Audit Committee

Debt Management

Tax Arrears Recovery

Medium-Term Financial Objectives

The Budget Debate is live broadcast during the month of June. Tune in for live coverage, or connect with the Ministry of Finance for the highlights. As each Cabinet Minister contributes to the Debate, details of the ‘Resilient Bahamas’ plan will be updated.

Learn More