A balanced budget has been a common phrase tossed around by successive
governments, but something that has been seemingly unachievable, at least until
now.
During his 2025/2026 budget communication in the House of Assembly Prime
Minister Philip Davis who is also Minister of Finance announced that, in summary,
his Government’s expenditure and policy actions in the budget included measures
that will for the very first time since Independence result in the achievement of a
balanced budget.
Akin to adding icing on the cake he revealed, “more than a balanced budget, a
budget with a surplus.”
Exactly how the Davis administration will secure the balanced budget he
explained, “we have modernized government for better and more effective
governance.  We provide affordability by securing our food supply.  We have
stimulated private sector investments across the Family Islands. 
“We are ensuring that Bahamians benefit from the use of our natural resources;
secure better health outcomes for our citizens; investing in critical sectors such as
education, healthcare, national security and environmental protection; and, of
course, we are strengthening public infrastructure across the archipelago.”
Prime Minister Davis pointed out that the 2025/2026 budget reflected the values
and policies laid out in detail in his Government’s ‘Blueprint for Change’, and built
on the progress of their three previous budgets.  
He said the government’s agenda is focused on security, which encompasses
multiple goals, from national security to personal safety; opportunity, which
requires growing the economy and investing in the Bahamian; affordability, which
means pushing against global and local inflationary pressures and innovating to
lower prices wherever possible.

The Prime Minister said, “our ability to make crucial investments in our people
was possible because of fiscal discipline, and because if we want the best
outcomes, we need to modernize government services and make them more
responsive to the people.” Prime Minister Davis added.
He noted that, despite all the headwinds and hardship that The Bahamas had faced,
it is “now a country on the move”. 
He said, “together, we are confronting our most difficult challenges, the ones that
have held us back for too long – and it is the determination and the ingenuity of our
people that is powering our country’s progress.”
The Prime Minister explained the governments can write smart laws, and
implement innovative policies but those laws and policies can only create
substantial and enduring change if the government works in close partnership with
the Bahamian people.  He recognized and expressed his gratitude to the many
Bahamians who are contributing their ideas, their talents, and their smarts, to
moving our country forward.
Prime Minister Davis stated that many Bahamians saw for themselves the spirit
and the resourcefulness of their fellow citizens during the pandemic, when people
who lost their jobs turned talents and interests into new business ventures, evidence
of the “no-quit character I referred to earlier”.
He pointed out that in his government’s ‘Economic Plan’ and its ‘Blueprint for
Change’, it laid out a detailed vision for recovering, rebuilding, and revolutionizing
our country’s economy.
“We knew we had a big task ahead of us,” Prime Minister Davis said.  “We knew
that rescuing the country from the worst fiscal and economic crises we’d ever
faced was going to be a big lift. But we also knew – as bad as things were – that
recovery could not be the ultimate goal; recovery had to be a stop on the way to
something better, because even in the best of times in the past, too many
Bahamians have been left out of our economy.”
He added:  “the choices we made fueled our country’s economic recovery. It’s a
recovery that independent experts have called ‘remarkable’ precisely because the
pace and magnitude of the recovery was in no way inevitable.  And even as we
pulled the country back from a fiscal cliff, we raised the minimum wage – and just

let me say it is yet not high enough, but raising it was a step in the right direction. 
We signed new labour agreements and approved new forms of relief.”
Prime Minister Davis pointed out that the decisions his government made and the
policies it carried out ended the speculation about downgrades and currency
devaluation.
He said, “we did not sit back, and hope good things would happen, we made good
things happen; we have actively promoted the country, creating new investments,
new jobs, and new opportunities, and $10 billion of private sector investment,
alongside hundreds of millions of government-led investments, we’re still at it –
still actively creating opportunities, not just hoping for them. 
Mr. Davis pointed out that his administration has built important relationships with
other leaders and countries, an important task for a small nation looking to
leverage the influence coalitions can exert on the global stage. 
He said, “we have created innovative climate finance arrangements, one of which
alone will save our country more than $120 million. We are bringing major
sporting events to The Bahamas. We have strengthened partnerships to protect our
borders.”
He also pointed out that his government’s efforts removed the country from the
financial services blacklist, and that Attorney-General Ryan Pinder is at this time
playing an influential role on the United Nations committee that is rewriting many
of the rules that will affect The Bahamas financial services industry, noting The
Bahamas has never had that kind of influence before where a seat at the table
matters.
“There’s so much more – from expanding Urban Renewal, to renovating clinics, to
taking action on the backlog of thousands of promotions in our public service, to
signing a record number of agreements with labour unions,” Prime Minister Davis
added.
He noted that his government had served close to one million free hot breakfasts to
school children in The Bahamas and is working on expanding the program.
He pointed out that that new initiative was the first time free breakfasts had been
served in government schools, noting that his government has accomplished a lot
of firsts which is what challenging the status quo requires.

He explained, “we launched our country’s first National Youth Guard which gives
young people training to support our security services during a national
emergency; and along with that, we give them job-ready skills that help them find
good work.
“We are the first government to put free WiFi in the parks, we are the first to
conduct a nationwide learning assessment in all of our schools to assess learning
needs more precisely; the first to launch the Golden Yolk programme for the
production of eggs; and I can say the first to take diversifying our trade
relationships seriously, with a new trade office and support for Bahamian
exporters.”
The Prime Minister also reminded that his government was the first to
“meaningfully stand up” to the Grand Bahama Port Authority, to insist that they
carry out their obligations to the people and communities of Grand Bahama.
After coming under a bit of criticism regarding his commitment to the orange
economy following a public spat with the Official Opposition leader Michael
Pintard regarding his profession the Prime Minister also said, “we are the first
government to pass a law ensuring intellectual property rights for our artists and
other creatives, so that they can benefit fully from what they produce. Over the
next few weeks, we will be sharing more details about these and many other
firsts.”
Following the Prime Minister’s communication FNM leader Michael Pintard
accused the Prime Minister of selling the Bahamian people a dream, a dream of
opportunity ‘Island by Island. However he said, “while the Prime Minister dreams,
Bahamians are living a harsh reality, one where the cost of living keeps rising,
systems are broken, and families struggle to live the life they deserve.”
Mr. Pintard also referenced a recent poll done by a local daily that revealed 64.7
percent of Bahamians believe the economy is getting worse.
He said, “and yet, the government continues to act as if things are getting better for
everyone, when in truth, they’re only getting better for the precious few. So today,
let’s tell it like it is, and judge this administration by its own standard. The Prime
Minister claimed recently that the nation is no longer in crisis. He said they
inherited an economy “on life support”. But the numbers tell the truth: when the
PLP took office, the economy was growing at a 14 percent pace.”

Continuing he said, “Davis said the healthcare system was under pressure. And yet,
under this government, it’s worse than ever before. Ambulances bought with
taxpayer money sit idle because they were not road ready.”
“Our hospitals are overcrowded, crumbling, and under-resourced, and the promised
“new hospitals”, still just words on paper, with no plan for staffing.”
“The Prime Minister said people were burdened by fear and frustration when he
took office. Then that burden got worse on his watch, and he started to shift the
blame, he told you that the cost of living is a choice.”
“Crime is up, murders are rising, sexual violence is rising and people don’t feel
safe, and they don’t feel like they can trust their government,” said Pintard.
Continuing he said, “this government’s definition of progress should concern us
all. They talk about a balanced budget and even a surplus, an announcement that
comes as a surprise to all of the contractors, nurses, workers, and vendors who are
still waiting on their payments. When Davis says the government hasn’t made any
cuts, clearly he has forgotten the people the government owes.”
Today the Prime Minister is in New York for the 2 nd annual Bahamas Business and
Investments Forum hosted by the Bahamas Embassy to the United States headed
by Ambassador Wendal Jones.
Debate on the budget begins on Wednesday June 4 th when the Prime Minister
promised to explain in greater detail the investments the government has made in
this budget.