The country is facing extraordinary and challenging circumstances, due to the state of public finances, which could undermine the stability of the Bahamian economy over time. The 2018/19 Budget takes into consideration $360 million in unpaid bills, $76 million in previously under-budgeted committments, and high levels of debt. To address the state of fiscal affairs, the Government took the decision to raise additional revenue through increased taxation and enhanced revenue collection measures.
|Details||2017/2018 ($MIL)||2018/2019 ($MIL)|
What's in the Budget for You?
In our Manifesto, we vowed to practice fiscal discipline in the management of the affairs of the nation. We pledged to pursue a transformative socio-economic growth agenda to pull our country out of its economic and fiscal malaise. We deliver on these commitments in this budget."
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.