Muranga County Fiscal Strategy Paper 2018

Abstract

The Fiscal Strategy Paper identifies the broad strategic priorities and policy goals that will guide the County Government in preparing its budget for Financial Year 2018/2019 and the Medium Term Plan. The paper discusses the performance of the Financial Year 2017/18 budget, which forms the basis for projecting the financial outlook with respect to the County Government revenues and expenditures for financial year 2018/2019 and over the medium term. The County priorities outlined in the paper shall form the basis for formulation FY 2018/19 budget and the Medium Term. The fiscal framework ensures adherence to principles of public finance and fiscal responsibility principles as set out in the Constitution and the Public Finance Management Act 2012 respectively. Specifically, the development to recurrent expenditures has been maintained within the required ratios of 30:70. Further the expenditures are fully funded from the allocation from the National Government and county own revenue. In achieving county goals, prudency in use of public resources has been and will be exercised. The paper covers the following broad areas; review of the fiscal performance of financial year 2017/2018; highlights of the recent economic developments and the economic outlook; broad strategic priorities and policies for the Medium Term and the Medium Term Fiscal Framework. The priorities outlined in the Paper are in line with the priorities set out in the Budget Policy