News report: Chamber to scrutinize govt’s $39.3m surplus
Published by Chester Robards, The Nassau Guardian, October 15, 2026
The Bahamas Chamber of Commerce and Employers’ Confederation (BCCEC) said it will closely examine the government’s reported $39.3 million fiscal surplus to determine whether it represents genuine improvement or resulted from accounting adjustments and deferred obligations.
While congratulating the Davis administration on reporting the country’s first fiscal surplus since independence, the Chamber said the preliminary result must be supported by transparent and verifiable financial information.
The government reported a $39.3 million surplus for the 2025/2026 fiscal year, equivalent to 0.2 percent of gross domestic product (GDP). The outcome fell $36.2 million short of the government’s $75.5 million budget target.
“This accomplishment represents an encouraging step toward strengthening the nation’s fiscal position and demonstrates the importance of prudent financial management,” the BCCEC said.
“However, the Chamber believes that such an achievement must be supported by transparency, accountability and verifiable results.”
The Ministry of Finance’s June fiscal report showed that the government accumulated a $341.4 million deficit during the first six months of the fiscal year before recording monthly surpluses from January onward.
It remained approximately $91.4 million in deficit on a cumulative basis through May. A $130.7 million surplus in June moved the full-year balance into positive territory.
June revenue reached $777.1 million, accounting for nearly one-fifth of total revenue collected during the year. The ministry said the month included significant dividend receipts and reciprocal offsets of receivables and payables between the government and statutory bodies.
The Chamber said it will examine the government’s revenue collections, expenditure patterns and reported financial results. It wants to ensure “that the surplus reflects genuine fiscal improvement and is not merely a temporary outcome of accounting adjustments, or the deferral of outstanding obligations”.
The BCCEC urged the government to intensify the collection of outstanding taxes, fees, fines and other revenue owed to the public treasury through stronger enforcement, more efficient systems and the reduction of arrears.
However, it also called for a comprehensive examination of public spending, procurement practices and operating costs.
The Chamber said digital transformation could help identify opportunities to eliminate waste and improve efficiency, while ensuring public funds are directed towards essential services and productive investments.
Total government revenue reached $3.96 billion during the fiscal year, exceeding budget by $67.7 million. Expenditure was also above target, reaching $3.92 billion – approximately $103.9 million more than projected.
The BCCEC questioned how the surplus could be translated into relief for households and businesses facing elevated living and operating costs.
“We urge the government to consider how the surplus can support targeted, sustainable measures to ease the cost of essential goods and services, strengthen the business environment and improve the economic well-being of Bahamians, while avoiding measures that could undermine long-term fiscal stability,” it said.
The Chamber also called for the surplus to support further reductions in the national debt and associated servicing costs.
Public debt interest payments reached $674.7 million during the fiscal year, consuming approximately 17 percent of government revenue.
The BCCEC said the administration should publish “a clear, transparent plan” showing how the fiscal improvement will be allocated among debt reduction, cost-of-living relief and strategic economic investment. It said such a framework would strengthen public confidence and provide businesses with greater certainty, while supporting fiscal responsibility, competitiveness and longer-term economic growth.
Read the News report here: https://www.thenassauguardian.com/business/chamber-to-scrutinize-govt-s-39-3m-surplus/article_cd7da71a-75b7-4efb-94e5-38c1f704daad.html
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