The Cayman Islands Government recorded a CI$252.3 million surplus in the first half of 2026.
The result put the broader public sector $67.3m ahead of budget at the end of June and was 36% above the $185m surplus forecast for the year.
Core Government accounted for $244.4m of the surplus, while statutory authorities and government companies contributed a combined $7.9m.
The figures, published on 7 August in the unaudited quarterly financial report for the period ending 30 June 2026
Core Government revenue reached $856.2m in the first six months. That was $43.8m above budget and $89m, or 12%, higher than the same period in 2025.
Coercive revenue made up $817.3m of the total and was $33.3m above budget.
The government linked part of the increase to higher volumes of registered funds. Mutual fund administrator fees were $7.9m above budget, while private fund fees were $7.1m ahead of projections.
Property transactions also generated more revenue than expected. Stamp duty on land transfers was $22m above budget, while charges on share transfers involving land-holding companies were $4.6m ahead of projections.
The report attributed the higher stamp duty receipts to the rate increasing from 7.5% to 10% on 1 January, as well as higher property transaction volumes and values.
Tourist accommodation charges were $3.7m above budget. The report cited about an 11% increase in air arrivals and a 6% increase in cruise arrivals compared with the prior year-to-date period.
Spending remained below budget despite rising from a year earlier. Core Government expenses reached $611.8m, $13.4m below budget but $39.5m higher than during the first six months of 2025.
Personnel costs were $19.9m below budget, largely because of vacant positions. Supplies and consumables were another $14m below projections.
The government ended June with $588.9m in cash and deposits compared with $479m in outstanding debt. Cash therefore exceeded debt at the end of the second quarter.
The government cautioned that the midyear surplus does not necessarily indicate the full-year result. Operating costs are expected to rise as vacant positions are filled and delayed projects become operational.
The current surplus is expected to “decrease significantly” by year-end.
