Press Release

Source: Ministry of Finance, The Bahamas

Date: 30 July 2026
Contact: Financemail@bahamas.gov.bs

The Ministry of Finance is pleased to release its quarterly report on the government’s fiscal operations for the nine months to March of FY2025/26, as mandated by the Public Finance Management Act, 2023.

The government’s overall fiscal performance for the review period benefitted from an improvement in revenue performance, when compared with the comparative period in the prior year. Tax revenue expanded, year-over-year, by $93.0 million (4.2 percent) to $2,292.4 million, for 66.7 percent of the budget. Improved economic conditions, alongside strengthened tax administration measures, supported gains in Value Added Tax collections ($69.4 million) and Taxes on Use and Permission to Use Goods ($49.8 million). These increases were primarily tempered by lower yields for taxes on property ($12.8 million) and stamp taxes ($12.5 million).

Non-tax revenue declined by $12.2 million (4.5 percent) to $258.5 million, attributed mainly to a $11.6 million reduction in property income.

Aggregate expenditure increased by $108.8 million (4.2 percent) to $2,709.3 million (70.9 percent of the budget), with the recurrent and capital components at $2,437.6 million and $271.7 million, respectively. The $75.2 million rise in recurrent expenditure was driven by higher spending for compensation of employees ($35.5 million), social assistance benefits ($14.2 million) and other payments ($34.8 million). Capital expenditure increased by $33.6 million (14.1 percent) to $271.7 million, for 72.8 percent of the budget, and featured a $26.4 million rise in outlays for the acquisition of non-financial assets.

As a result of these developments, the fiscal deficit for the nine months to March 2026 narrowed by $27.3 million (21.0 percent) to $157.3 million, which was equivalent to an estimated 0.9 percent of GDP.

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