NASSAU, BAHAMAS- The Ministry of Finance has released its Monthly Fiscal Report for April 2025, showing the government posted an overall deficit of $2.1 million for the month, largely due to a decline in tax receipts compared to the same period last year.
According to the report, total revenue collections amounted to $347.4 million, representing a 3.9 percent year-over-year decrease. Tax revenues fell by $15.2 million to $325.8 million, primarily due to timing differences in the receipt of business license fees. In contrast, other tax categories showed modest gains, including a $8.6 million increase in value-added tax (VAT) receipts and a $6.5 million improvement in gaming tax revenue.
Non-tax revenue edged slightly higher to $21.5 million, up $0.9 million from the previous year. The bulk of this revenue—$21.0 million—was generated from the sale of goods and services.
On the expenditure side, total government spending for the month stood at $349.5 million. Recurrent expenditure accounted for $330.0 million of this amount, while capital expenditure totaled $19.6 million. The $25.4 million increase in spending over the prior year was driven primarily by higher costs associated with the use of goods and services ($20.0 million), transfers ($7.5 million), and subsidies ($7.3 million). Capital spending declined by $3.1 million, reflecting reduced outlays for transfers and the acquisition of non-financial assets.
To finance the shortfall, the government increased its outstanding debt stock by an estimated $6.7 million in April.
