Press Release

Source: Ministry of Finance, The Bahamas
Date: 26 September, 2025
Contact: Financemail@bahamas.gov.bs

The Ministry of Finance is pleased to release the Monthly Fiscal Report for June 2025, as mandated by the Public Finance Management Act, 2023.

Preliminary data for the month indicate a significant turnaround in the Government’s fiscal position, to an overall surplus of $25.4 million from a deficit of $35.8 million in June 2024. This positive outcome featured a $74.4 million (31.6 percent) year-over-year increase in total revenue to $310.0 million, which more than offset a modest $13.2 million (4.9 percent) rise in total expenditure to $284.6 million.

Within revenue, tax receipts expanded by $58.8 million (28.7 percent) to $263.3 million, supported by stronger inflows from international trade and transactions which advanced by $29.9 million to $99.5 million, following enhanced enforcement of export duties. Value added tax receipts rose by $13.8 million to $113.0 million, reflecting yield gains across realty transactions, customs, and other goods and services. Taxes on the use of goods and permissions to use goods also increased by $8.3 million to $24.3 million, owing to higher receipts of communication levies. Growth in non-tax revenue of $16.2 million (52.9 percent) to $46.7 million was mainly attributed to boosted dividend income.

On the expenditure side, recurrent spending for the review month was $268.7 million, a year-over-year gain of $22.4 million (9.1 percent). This was largely associated with elevated outlays for the use of goods and services by $27.3 million to $61.8 million, partly due to timing differences in payments for communication expenses. Personal emoluments increased by $14.1 million to $89.1 million, mainly reflecting payments for allowances and NIB contributions, while public debt interest payments were higher by $18.6 million at $74.5 million, consistent with growth in the Government’s overall liabilities. In contrast, capital expenditure contracted by $9.1 million (36.3 percent) to $15.9 million, owing to moderated outlays for transfers and acquisition of non-financial assets.

For fiscal year 2024/25, the deficit stands at an estimated 0.5 percent of GDP, which remains firmly within the targeted range of 0.3 to 0.7 percent of GDP. 

As a result of financing activities, central Government’s outstanding debt decreased by an estimated $360.9 million in June 2025. Proceeds from borrowings totaled $1,745.8 million, of which 80.6 percent was sourced in foreign currency and elevated by the recent international bond issuance and commercial borrowing. Debt repayments amounted to $2,106.7 million, with the 70.6 percent in foreign currency obligations inclusive of $767.4 million in Eurobond repurchases.

The Ministry of Finance is committed to the Government’s mandate of full transparency and timely reporting. The public is encouraged to visit the national Budget Website (www.bahamasbudget.gov.bs) to view all fiscal reports.