Prime Minister Perry Christie has announced that there will be no tax increases in this budget. However, the government will seek to introduce VAT next year and will seek to borrow around $100 million.

During the 2012/2013 Mid-Year Budget Statement at the House of Assembly, February 25, Prime Minister Perry Christie said the International Monetary Fund (IMF) forecasts that the Bahamian economy will grow by 2.7 per cent in real terms in 2013.