Bahamas Government Records First Fiscal Surplus Since Independence With $39.3 Million
Prime Minister Philip Davis says The Bahamas posted a $39.3 million FY2025/26 surplus, 0.2% of GDP, its first since independence, as revenue rose 16.6%. The Black Executive Journal — Daily Edition
The Bahamas recorded a preliminary fiscal surplus of $39.3 million, 0.2% of GDP, for FY2025/26. Prime Minister Philip Davis called it "the first fiscal surplus recorded in an independent Bahamas" (Office of the Prime Minister — Oct 14, 2026).
Bahamian revenue rose 16.6% to $3.96 billion while spending rose 12.6% to $3.92 billion. The balance has moved from a deficit of 12.5% of GDP in FY2020/21 to a surplus (Office of the Prime Minister — Oct 14, 2026).
The IMF's October Regional Economic Outlook projects sub-Saharan Africa will grow 4.5% in both 2026 and 2027 (IMF Data — Oct 15, 2026).
Nigeria's headline inflation eased to 14.63% in September from 15.39% in August. Food inflation was 19.59% and core inflation 12.95% (NBS — Oct 15, 2026).
US producer prices for final demand rose 1.3% in September and 6.3% over 12 months, with energy up 10.8% in the month (BLS — Oct 15, 2026).
US retail and food services sales rose 0.8% in September and 6.3% from a year earlier (Census Bureau — Oct 15, 2026).
STORIES THAT MATTER
BAHAMAS — Government Records First Fiscal Surplus Since Independence With $39.3 Million
Prime Minister Philip Davis told Parliament on Wednesday that, on preliminary figures, the Government of The Bahamas closed fiscal year 2025/26 with a surplus of $39.3 million, equal to 0.2% of GDP.
"It is the first fiscal surplus recorded in an independent Bahamas," Davis said, adding that "no previous Government of an independent Bahamas has recorded a fiscal surplus" (Office of the Prime Minister — Oct 14, 2026).
taxes on international trade and transactions rose 4.3% to $908.9 million;
non-tax revenue rose 45.4% to $543.3 million, driven mainly by higher property income and sales of government goods and services.
Total expenditure rose 12.6% to $3.92 billion. Recurrent spending was up 9.7% at $3.51 billion, capital spending up 45.2% at $414.9 million, and interest on public debt totaled $674.7 million (Office of the Prime Minister — Oct 14, 2026).
The surplus came late in the year.
The first six months were in deficit, and every month from January through June was in surplus. The final quarter produced $196.6 million, and June alone a $130.7 million surplus, compared with $25.4 million in June 2025 (Office of the Prime Minister — Oct 14, 2026).
June revenue of $777.1 million was up 150.7% from a year earlier.
Within that increase:
VAT rose $135.2 million, including settlement of arrears;
taxes on international trade rose $44.4 million on departure tax and excise duty receipts;
"In the space of five fiscal years, the public finances have moved from a deficit of 12.5 percent of GDP to a surplus," Davis said (Office of the Prime Minister — Oct 14, 2026).
Why It Matters
A government surplus in a tourism-dependent Caribbean sovereign is the figure creditors, rating agencies and bond investors watch. Interest still cost $674.7 million, about 17% of revenue.
Part of the June improvement came from dividends and VAT arrears, so FY2026/27 monthly results will show whether the surplus holds without one-off collections.
SUB-SAHARAN AFRICA — IMF Projects 4.5 Percent Regional Growth In 2026 And 2027
The IMF's October 2026 Regional Economic Outlook for Sub-Saharan Africa, titled Resilient Growth, Clouded Outlook, projects regional growth of 4.5% in both 2026 and 2027 (IMF Data — Oct 15, 2026).
