The Premier Hon. Charles Washington Misick has outlined a picture of steady growth, strong revenues, and targeted investment during his 2026/2027 Budget Debate presentation.
Delivering his address in the Turks and Caicos Islands House of Parliament the Premier highlighted key achievements over the past year, including more than $1.2 billion in development agreements expected to create thousands of jobs, a more than 40 percent reduction in major crime, and record tourism performance with nearly two million visitors.
He also pointed to national improvements in education, healthcare, and infrastructure, including upgrades at the Raymond Gardiner High School, expanded port development, and new social support initiatives.
Forward looking…
The Estimates of Revenue and Expenditure
tabled in the Parliament are projecting revenues of $551.1 million and Expenditure of $550.8 million, a modest surplus and no new taxes.
Key Highlights
Economy nearly doubled since 2021
GDP projected at $1.7 billion
$430 million in reserves (23% of GDP)
A-/Stable sovereign credit rating reaffirmed by S&P
Public safety success – serious crime down 55% and five consecutive months without a homicide.
Housing relief – foreign purchase threshold to protect affordable home buyers, 60 newly acquired lots for serviced subdivisions and government will deliver properly serviced subdivisions with roads, drainage, and utilities installed.Mortgage Corporation and the Credit Union should be operational by the 3rd quarter of 2026.
Over $62 million allocated to Grand Turk and the Family Islands for roads, ports, utilities, housing and resilience.
Infrastructure – $30 million for airport arrivals upgrades and $30 million for Phases 3 and 4 of the South Dock port redevelopment. $22 million allocated for the Fuel Discharge Mooring System.
Healthcare reform- new polyclinic in Providenciales and tighter TAP eligibility to ensure sustainability.
Strategic Conch Farm acquisition for redevelopment into a public marina to empower young local water sports entrepreneurs.
Prudent medium-term borrowing strictly for capital projects with strong safeguards
The 2026/2027 budget projects total revenue of $552 million, largely driven by accommodation tax, import duties, stamp duty, and work permits.
Guided by the theme “Strong Today. Secure Tomorrow”, this Budget protects current stability while building a resilient, inclusive future for every island and every family.
Overall, the Premier said the budget is designed not just to manage finances, but to turn economic growth into real benefits for Turks and Caicos Islanders.
