Bungoma County Fiscal Strategy Paper 2016

Abstract

This 2016 County Fiscal Strategy Paper (CFSP) has been prepared against the backdrop of mixed global economic prospects, underpinned by gradual strengthening of the advanced economies and slowing down of the Asian giant - China. Overall the positive trajectory for Kenyan economy and the global outlook is expected to continue. Kenya’s GDP recorded 5.3 percent growth in 2014 against the 5.7 percent recorded in 2013.In 2015, GDP grew by 5.6 percent. The national GDP is projected to grow at 5.9 per cent in 2016 and to accelerate to 6.5 by 2017. The National treasury has managed to maintain stable fiscal and monetary environment. It is against this momentum that CFSP focuses to accelerate economic growth by riding on the macroeconomic stability; focusing on fiscal discipline and structural reforms; and deepening investment in critical economic & social infrastructure aimed at promoting productivity and facilitating expansion of the private sector. Further negotiations and discussions through the intergovernmental forum is expected to bring more resources to the counties; the additional resources will be committed to critical areas of development The broad strategic policies planned for the fiscal year 2017/18 are expected to build on the 2016/17 achievements and in the medium term will attain resilience necessary for employment creation and poverty reduction.