Pre-budget Report 2024-2025

The pre-budget report (PBR) is a document produced annually by the Government to provide the public with a better understanding of our fiscal aims and objectives, an update on our economy, a summary of the policies under consideration, and to solicit feedback.

Like most small states and territories, Bermuda’s economy is vulnerable to external events, underlining the need for financial and fiscal prudence. This vulnerability is compounded by Bermuda’s continuing budget deficits and government net debt, standing at $3.1 billion.

The Government must take appropriate action to address the problems the island faces head-on. It is also important that stakeholders and citizens understand these challenges, are aware of the factors influencing the government's fiscal policy decisions, and utilise the opportunity to give their views, as it will help to ensure we achieve the best outcome for Bermuda.

The Government invites and welcomes feedback on this document. In addition to electronic communication, the Government will engage the public and stakeholders in January 2024 to discuss the principles laid out in this document and to solicit public feedback. If you wish to log your comments/feedback please visit or email The deadline for submissions is January 17, 2024.