Financial Initiatives

NASSAU, The Bahamas – During his remarks at the Closing of the Mid-Year Budget Debate, on March 6, 2023, Prime Minister and Minister of Finance the Hon. Philip Davis noted that his Government expected to see increased revenues and disciplined expenditures as it worked towards its goal of a 25% Revenue-to-GDP ratio, fueled primarily by “increased efficiency and fairness in tax collection and a booming economy”. “Already, we are seeing the fruits of our strategic approach to fiscal management come to bear, as we have successfully lowered the debt-to-GDP ratio from over 100% under the previous administration to just over 80%,” he said in the House of Assembly.  “We expect continued decreases, as we seek to take it all the way down to 65% by the 2026/2027 fiscal year.” “Spending is down agains...