Antigua and Barbuda reports record fiscal surpluses in 2026 budget

Prime Minister Gaston Browne on Thursday announced that Antigua and Barbuda has delivered one of its strongest fiscal performances in modern history, reporting a primary surplus of $254.9 million and an overall surplus of $116.3 million as he presented the 2026 national budget to Parliament.

Browne said the figures represent a decisive break from the deep deficits his administration inherited 11 years ago, crediting disciplined fiscal management, sustained economic expansion and strengthened revenue flows across key sectors.

“A primary surplus of more than a quarter billion dollars shows that we are covering all our expenses, including interest payments, and still have money left over,” he told legislators, describing the outcome as evidence of a resilient and well-governed economy. He said the country has shifted from “borrowing heavily just to function” to producing consistent surpluses now available for national investment.

According to the Ministry of Finance, Antigua and Barbuda’s debt-to-GDP ratio stands at 61.4%, down sharply from what Browne said was an effective 120% when his government took office. The Prime Minister said the improved fiscal position places the country in a stronger position to accelerate public investments, reinforce social programmes, and protect vulnerable households.

The positive outlook, he noted, reflects steady economic growth, a robust tourism rebound, rising construction activity and increased import volumes. Government officials also cited stronger tax compliance and post-pandemic recovery dynamics as contributors to higher revenue performance.

The 2026 budget — themed “People-Centered Growth and Development” — outlines new spending commitments for education, healthcare, housing and infrastructure, all of which Browne said will be supported by the country’s healthier balance sheet.

Parliament is expected to begin debating the budget next week.