Latest News

'Dorian' impact to trigger change of plan for annual budget and fiscal targets

Oct. 31, 2019

Preliminary estimates in the latest budget performance report show continued improvement in the fiscal deficit during the first quarter (Q1) of the fiscal year. Although the Government has plans to revise its fiscal estimates moving forward, as a result of Hurricane Dorian, the budget performance in the first quarter is further proof that the commitment to fiscal prudence prior to Hurricane Dorian has placed the government in a better position to manage the fiscal impact.

Government meets deficit target for fiscal year 2018/19

Aug. 30, 2019

Last fiscal year (FY2018/19), the Government recorded a deficit of $222.4 million, or 1.7% of GDP, marking the lowest deficit and fiscal ratio achieved by any Administration in The Bahamas in nearly10 years.It is also the first time since FY2012/13 that any Government has met its deficit target. The Ministry of Finance published the latest provisional fiscal data in the Fourth Quarter Report on Budgetary Performance for FY2018/19.

Overall allocation to Office of the Prime Minister reduced in 2019/20 Budget

June 20, 2019

The overall 2019/20 Budget allocation for the Office of the Prime Minister has been reduced, Prime Minister the Most Hon. Dr. Hubert Minnis pointed out during his contribution to the budget debate on Wednesday 19 June.

Government embarks on Preschool to University free education strategy

June 19, 2019

The Minnis administration is making one of the greatest investments in education in Bahamian history with the implementation of a preschool to university free education strategy, Prime Minister the Most Hon. Dr. Hubert Minnis said on Wednesday in his contribution to the 2019/20 Budget debate.

Land reform initiative to improve access to Crown Land leases and grants

June 19, 2019

More Bahamians are expected to have greater access to land through a land reform initiative that includes the modernization of the Department of Lands and Surveys and the elimination of taxes on land transfers to immediate family members, Prime Minister the Most Hon. Dr. Hubert Minnis announced on Wednesday during his contribution to the 2019/20 Budget debate.

DEBATE ON THE 2019/20 BUDGET OPENING STATEMENT

June 5, 2019

Mr. Speaker,

On the 29th of May, I presented the 2019/20 Budget Communication to this House, outlining the Government’s economic and fiscal agenda for the next 12 months, and beyond. Today, it is indeed my pleasure to rise once again to speak to the way that this Budget will positively impact the lives of Bahamians—young people, families, small businesses, and more—and transform our country into a modern society, an inclusive society, and an opportunity-driven society. Also, Mr. Speaker, a society where the Government is perceived as a welcomed partner instead of an unnecessary hindrance to advancing …

2018/19 MID-YEAR BUDGET STATEMENT

Feb. 27, 2019

Mr. Speaker,

It is my honour to present the 2018/19 mid-year budget statement, as mandated by the Financial Administration and Audit Act, as well as the Fiscal Responsibility Act, 2018. This statement gives a provisional account of fiscal developments during the first half of the 2018/19 financial year; an update on the progress of the initiatives set out in the 2018/19 budget communication; and the outlook for the remainder of the fiscal year.

2016/2017 BUDGET CONTRIBUTION

June 10, 2016

Mr. Speaker,

It is indeed my privilege to rise once again in this Honourable House to provide my contribution to this 2016/2017 Budget Debate as the representative for the wonderful people of the great Constituency of Sea Breeze.