Antigua and Barbuda is on course to record a budget surplus exceeding EC$250 million this year, Prime Minister Gaston Browne announced Sunday, citing strong revenue growth across key collection agencies.
Speaking on the Brown and Brown Show, Browne attributed the projected surplus to robust collections by the Inland Revenue Department and the Customs and Excise Division, even as the government continues to hold fuel prices below market levels.
"So far, year to date, revenue performance has been good, very strong," Browne said. "We're quite pleased with the performance of both Inland Revenue as well as Customs. Both of them have actually shown increases over 2025."
The improved revenue performance has also allowed the government to make further inroads on the national debt. "We are projecting a surplus of about a quarter of a billion dollars, and the debt-to-GDP is falling down to about 62 percent," Browne said.
The prime minister acknowledged that the government has continued to subsidize fuel prices against the advice of the Ministry of Finance, which had recommended allowing market prices to take effect. "We're paying West Indies Oil Company monies to maintain the price artificially low," Browne said, noting the subsidy costs the government approximately EC$4 million in monthly tax revenue. Despite that foregone income, overall revenue collections have still surpassed those recorded during the same period last year.
Browne also defended his administration's broader fiscal record, pointing to what he described as modest growth in the national debt since 2014 alongside significant economic expansion. "When it comes to fiscal responsibility, I can say here without any fear of contradiction that my administration has been the most fiscally responsible administration that this country has ever seen," he said.
The prime minister credited the combination of sustained economic growth, stronger tax collections, and disciplined fiscal management for strengthening the government's financial position while continuing to fund national development projects.
