The Ministry of Finance publishes in-year, quarterly budget performance reports that provide information about the Government’s revenue performance, expenditure developments, debt activity and policy initiatives for enhanced public financial management. The Ministry also produces a user-friendly "fiscal snapshot” that summarizes the key developments and trends in the quarterly budget report.
Resilient Bahamas Budget Snapshot
Mid-Year FY2020/2021
Learn more about the Resilient Bahamas Budget Plan, which outlines how and where the government is spending public funds to address the public health crisis and economic fallout.
Mid-Year Budget Performance
During the six months ending 31st December, 2020
This Mid-Year Budget Performance comes at an unprecedented time in modern Bahamian history. When The Bahamas is still rebuilding from Hurricane Dorian -- and contending with the persistent threat of the COVID-19 pandemic. To address these challenges, in May of last year, the government brought to the house its budget for the 2020/21 fiscal year entitled, “Resilient Bahamas: A Plan for Restoration".
This macroeconomic plan was designed to allow the country to successfully weather the ravages of the coronavirus pandemic and to also emerge stronger and more resilient.
Latest Fiscal Snapshot
Midyear Budget Performance FY2020/21
Learn more about the Resilient Bahamas Budget Plan, which outlines how and where the government is spending public funds to address the public health crisis and economic fallout.
Third quarter fiscal results confirmed that the Bahamian economy, although still below pre- crisis performance, is steadily progressing along the path of recovery. The positive impact of the gradual relaxation of health and safety restrictions on domestic businesses was evidenced in improved revenue receipts, with aggregate revenue collection through the nine months review period positioning at nearly 70 percent of the annual budget.
Mr. Speaker,
This Mid-Year Budget Statement is presented at an unprecedented time in modern
Bahamian history.
It comes at a time when The Bahamas is still rebuilding from Hurricane Dorian -- when, the country is contending with the persistent threat of the COVID-19
pandemic.
In keeping with its commitment to reform public finance management in The Bahamas, the Government tabled a suite of new legislation in the House of Assembly today that will usher in new levels of transparency and accountability.
The shock of the coronavirus pandemic on macroeconomic conditions continues to be seen in the government’s budget performance, according to preliminary estimates published in the Midyear Fiscal Snapshot and Budget Performance Report for FY 2020/21.
COVID has thrown the entire world into crisis; no country has been spared the significant human, social, and economic toll. Notwithstanding, the recently published International Monetary Fund (IMF) Staff Report for the 2020 Article IV Consultation acknowledges that the Government's handling of the coronavirus pandemic and its articulated macroeconomic plans have produced notable results when it comes to saving lives and minimizing the fall-out.
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.
Revenue uptick continues as economy slowly opens
May 5, 2021
Monumental shifts ahead for public financial management
Feb. 10, 2021
