NASSAU, The Bahamas — Prime Minister Philip Davis KC, MP, yesterday announced that The Bahamas has achieved a 0.5 percent fiscal deficit for the budget year ending June 30, 2025, as confirmed by the Ministry of Finance. This result is within the government’s target range of 0.3 to 0.7 percent and represents a major improvement from the 13.7 percent deficit recorded in 2021.
Prime Minister Davis said this milestone reflects how far the nation has come under his administration. He noted that “four years ago, our country was facing one of the worst fiscal crises in its history. Today, we are back on stable ground. We made tough choices to protect our economy, and those choices are now paying off.”
The Prime Minister stressed that this achievement is about more than balancing the books — it is about delivering results that make life better for Bahamian families. “Every dollar we save on debt is a dollar that can go toward schools, hospitals, family islands, and helping Bahamian families meet the cost of living,” he said. “It means more resources for the things that matter — better roads, stronger communities, safer neighbourhoods, and more jobs.”
He added that his government remains focused on responsible management of the nation’s finances. “We are managing the country’s finances responsibly so that Bahamians can feel the difference — in lower costs, better services, and a stronger, more resilient economy,” he said.
Prime Minister Davis also connected the government’s fiscal progress to its broader mission of sustainable development. “Responsible governance is about managing all our resources wisely,” he explained. “The same discipline that drives our fiscal policy also drives our commitment to protecting our environment and preparing for the future.”
He concluded that this success is a reflection of national progress and shared effort. “This is what responsible leadership looks like — steady progress that improves lives and strengthens our country. We are building a better future, one decision at a time, and we are doing it together.”
