News Story

Revenue Improves $50.4 million over Prior Year

Source: Ministry of Finance, The Bahamas 

Date: 16 May 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 February 2025, as mandated by the Public Finance Management Act, 2023.

During the review month, revenue receipts totaled $292.9 million, a 20.8 percent improvement from the prior year, with tax revenue higher by $29.8 million at $241.1 million. The performance featured gains of $11.5 million in value-added tax collections to $103.2 million and $16.1 million in taxes on the use and permission to use goods to $45.7 million. Non-tax revenue expanded by $20.7 million to $51.8 million, driven by receipt of dividends and remittances of banking sector fees.

Aggregate expenditure settled at $234.4 million, with the recurrent and capital components at $220.9 million and $13.4 million, respectively. The year-over-year decline was largely associated with the $6.8 million reduction in capital expenditures.

As a result of the above outcomes, the Government’s overall fiscal position for February 2025 posted an estimated surplus of $58.6 million. Financing activities for the month featured an estimated increase in the outstanding debt stock by $28.7 million.

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