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Source: Ministry of Finance, The Bahamas

Date: 24 October 2025

Contact: Financemail@bahamas.gov.bs

The Ministry of Finance is pleased to release its monthly report on Government’s fiscal operations for the month of July 2025, as mandated by the Public Finance Management Act, 2023.

During the review month, revenue receipts totaled $326.7 million, an 18.0 percent increase from the prior year, with the tax component rising by $41.5 million to $296.8 million. Key gains were registered for taxes on international trade and transactions ($24.2 million) and value-added tax collections ($18.6 million). Non-tax revenue edged higher by $8.2 million to $29.9 million, on account of improved collection of customs and immigration fees.

Aggregate expenditure settled at $392.6 million, with the recurrent and capital components at $337.3 million and $55.3 million, respectively. The year-over-year $60.2 million gain was largely associated with higher outlays for the use of goods and services ($22.7 million), other transfer payments ($27.1 million), and acquisition of capital assets ($14.9 million).

As a result of the above movements, the Government’s overall fiscal position for July 2025 recorded an estimated deficit of $65.9 million. Financing activities for the month featured an estimated increase in the outstanding debt stock by $224.3 million.

The public is encouraged to visit the national Budget Website (www.bahamasbudget.gov.bs) to view all fiscal reports.

Source: Ministry of Finance, The Bahamas

Date: 24 October 2025

Contact: Financemail@bahamas.gov.bs

In FY2024/25, the combination of solid gains in revenue collections and prudent expenditure growth yielded significant improvement in the government’s fiscal consolidation performance.

Tax revenue grew by $290.3 million (10.6 percent) to $3,026.4 million, for 96.3 percent of the budget. Improved economic conditions, alongside strengthened tax administration measures, supported increases in Taxes on International Trade and Transactions (20.2 percent to $871.7 million), Value Added Tax collections (6.8 percent to $1,438.0), and Taxes on Use and Permission to Use Goods (14.5 percent to $322.1 million).

Non-tax revenue expanded by $36.2 million (10.9 percent) to $369.2 million and was largely attributed to higher receipts from the sale of goods and services ($27.4 million).

 Aggregate expenditure increased by $211.8 million (6.5 percent) to $3,474.9 million (96.2 percent of the budget), with the recurrent and capital components at $3,189.3 million and $285.6 million, respectively. Key drivers behind the $ 227.8 million gain in recurrent expenditure included outlays for use of goods and services ($130.1 million) compensation of employees ($35.1 million) and public debt interest ($59.2 million). Capital expenditure decreased by $16.1 million (5.3 percent) to $285.6 million or 82.9 percent of the targeted spend. This decline was due to lower outlays for the acquisition of non-financial assets of ($6.8 million) and capital transfers ($9.2 million).

 As a result of these developments, the fiscal deficit narrowed by $115.1 million (59.3 percent), to $78.9 million and converged to an estimated 0.5 percent of GDP—which was in line with the budget target.

 The public is encouraged to visit the national Budget Website (www.bahamasbudget.gov.bs) to view all fiscal reports

The Commonwealth of the Bahamas (“Bahamas”), rated B1 by Moody’s, BB- by S&P and BB- by Fitch, requested Deutsche Bank to arrange a non-deal Fixed Income Investor Call on Wednesday October 8th at 11:00am ET / 16:00pm UKT.

The call will feature the Minister of Economic Affairs – the Honorable Michael Halkitis – and the Financial Secretary – Simon Wilson – who will provide an update on The Bahamas credit as well as recent developments such as the upgrade received by S&P to BB-, followed by Q&A.

An accompanying presentation during the live webinar will be available.

Please use the following link to pre-register.

Webinar link: https://evercall.co/oacc/12380

This message is for informational purposes only.  This message is not an offer to sell, purchase or a solicitation of an offer to sell or purchase any securities.  This message is not a recommendation or investment advice.