Alerts

  • On Monday & Tuesday 26th and 27th June there will be a possible one lane closure along North Shore Road, Pembroke between Glebe Road and Band Room Lane during off-peak times, to accommodate resurfacing works.

    It should be noted that these works are weather dependent.

Alerts

  • The Department of Parks advises that camping registration for the 15 May - 30 September camping season is now open. Permits can be collected at the Department of Parks, Ground Floor, Global House, 43 Church Street. Camping rate: $14 per night.

Finance

The Ministry of Finance supervises the economy of Bermuda generally and provides an overall framework for the financial management and control of government activities and finances.

Meet Bermuda's Minister of Finance, The Hon. E. T. (Bob) Richards, JP, MP

What do they do?

The following departments fall under the MOF’s authority:

The Minister of Finance also has responsibility for the National Pensions Commission and the Bermuda Monetary Authority.

The Ministry of Finance runs the following units to manage Bermuda’s finances:

Policy, Planning, and Management

  • provides overall direction and management of the MOF
  • delivers supervisory oversight of the departments in the MOF
  • undertakes strategic economic planning
  • manages the MOF’s public relations
  • organizes the co-ordination, review, and development of economic and financial policy.

Economic and Financial Intelligence

  • performs research and analysis of economic and financial conditions
  • provides economic forecasts, economic modeling, projections of GDP, development of key economic indicator.
  • analyses and comments on economic and financial statistics
  • produces an annual and mid-year economic review and outlook
  • manages the relationship with credit rating agencies and government lenders
  • responsible for government debt management policy
  • oversees the public pension fund

Fiscal Planning and Control

  • manages, collects, and collates consolidated fund budget data
  • monitors and controls overall government expenditures and the achievement of government revenues
  • reviews and develops the annual Capital Expenditure Plan
  • oversees and controls public debt
  • rolls out the Medium Term Budgeting initiative throughout government

Regulatory unit

  • provides policy advice, governance, and administrative services on regulatory policy matters (for financial services) of the Government of Bermuda
  • oversees the MOF component of the legislative program for the Bermuda Monetary Authority
  • provides policy advice to the Financial Secretary and the Minister of Finance on anti-money laundering and European Union financial services regulatory policy initiatives

Treaty Management

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