Presented by The Ministry of Finance

$2,395.6M

Total Revenue

1.1% Decrease from FY18/19 ($2,422.4M)

$3,073.1M

Total Expenditure

16.6% increase from FY18/19 ($2,635M)

-$677.5M

Fiscal Deficit

Hurricane Dorian increased the deficit by 218% from FY18/19 (-$212.8M)

Budget By The Numbers

The Budget provides a snapshot of the Government's estimated financial position by estimating how much money it plans to collect through taxes against how much money it plans to spend on operations, services and special projects.


In September 2019, The Bahamas was hit by the most catastrophic hurricane in its history. The Government revised its 2019/20 estimates of revenue and expenditure in January 2020. While many of the policy measures announced in the May 2019 Budget Communication remain the same, the Minister of Finance presented a Supplementary "Hurricane Dorian" Budget Statement, along with the Supplementary Draft Estimates for Revenue and Expenditure in the House of Assembly on January 29, 2020 to detail the adjustments made as a result of the fiscal and economic impact of Hurricane Dorian.

Fiscal Summary

Details 2018/19 ($M)
Actuals		 2019/2020 ($M)
Revised
Recurrent Revenue 2,422.3 2,393.5
Capital Revenue 0.1 2.1
Total Revenue 2,422.4 2,395.6
Recurrent Expenditure 2,418 2,687.6
Capital Expenditure 217.2 385.5
Total Expenditure 2,635.2 3,073.1
Fiscal Deficit -212.8 -677.5

What's in the Budget for You?

Individuals and Families

Vouchers for children to attend private pre-school free, and other educational savings. Tax relief in the form of duty free school supplies, small refrigerators and stoves. Duty reductions on home furniture, small cars, electric and hybrid vehicles.

Young People

Millions in capital funding directly for young entrepreneurs. Duty free concession for musical instruments, ideal for marching bands, Junkanoos and other creatives. $20M in increased educational investments for preschoolers to university students.

Family Island Communities

Housing allowances and other money for Family Island students to attend the University of The Bahamas. Millions allocated for infrastructure projects in the Family Islands targeted at renewable energy and airport rehabilitation.

Small Businesses & Investors

Millions allocated for ease of doing business initiatives, including Click2Clear, a new Customs online processing platform, and other modernization reforms to make it easier to deal with tax agencies and the Government on the whole.

The Nation as a Whole

Millions in the Budget to modernize government, including new online platforms to pay customs duties and renew passports. Money for large renewable energy projects to help bring down the cost of electricity in the long term.

It is two years in, and against some extraordinary odds we have delivered stable and steady governance instead of irresponsible and unplanned fiscal management. We secured positive economic growth at 1.6 percent last year, following the persistent economic stagnation that had characterized The Bahamas during the term of the former administration. We delivered a framework for good governance—not with superficial platitudes, but with the power of legally binding mandates."

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.

LATEST NEWS
None
None
None
OLDER NEWS
None
None
None