The Ministry of Finance and Economic Development said it spent last year advancing fiscal reforms, procurement oversight measures and economic policy initiatives.
According to the ministry’s 2025 Annual Report, Cayman Islands officials worked on several major financial planning exercises during the year.
These included preparation of the Pre-Election Economic and Financial Update, development of the 2026-2028 Strategic Policy Statement and tabling of the 2026-2027 Budget.
The government also continued overhauling how public finances are planned and reported through a transition to outcome-based budgeting.
The system is intended to tie government spending more closely to measurable results while improving transparency and accountability across the public sector.
As part of the reform programme, the ministry introduced robotic process automation to speed up budget preparation by automating repetitive reconciliation and data-handling tasks.
Officials said Cayman is expected to deliver its first outcome-based budget for the 2028/2029 financial period.
The Economics and Statistics Office continued expanding the government’s economic reporting during the year, including updates to the Cayman Islands’ Ecosystem Accounts and National Capital Accounts.
The accounts measure the economic contribution of environmental resources including tourism, fisheries, agriculture and mangroves.
Faster processing times and improved governance
Meanwhile, the ministry rolled out the Eurotrace Trade Database, which it said reduced trade data processing times from about three weeks to four days while improving validation and reporting accuracy.
The Central Procurement Office also continued implementing procurement reforms aimed at strengthening governance, compliance and oversight across government agencies.
According to the report, legislative updates introduced during the year clarified procurement procedures, business case requirements and contract award processes.
The ministry also reported progress on wider government risk management initiatives, including implementation of a centralised Risk Register Tool designed to improve monitoring of public sector risks.
As of 31 December 2025, the ministry employed 91 staff members, including 78 Caymanians.
Finance Administration processed 776 approvals for waivers and refunds linked to stamp duty, import duty and planning fees during the year.
The report said those approvals resulted in about CI$14.7 million in foregone government revenue.
The ministry also outlined ongoing asset recovery efforts under the Proceeds of Crime Act involving cash, real property and cryptocurrencies.
