This County Budget Review and Outlook Paper (CBROP) is prepared in accordance with the
Public Financial Management Act, 2012. It is the third to be prepared under the devolved
system of Government. It presents recent economic developments and actual fiscal outcome
for the FY 2015/16 and makes comparisons to the budget appropriations for the same year. The updated macroeconomic outlook also provides useful guidance on the basis for revising
the 2016/17 budget in the context of the Supplementary Estimates, as well as setting out the
broad fiscal parameters for the next budget and medium term framework.