Nakuru County Fiscal Strategy Paper 2021

Abstract

The County Fiscal Strategy Paper (CFSP 2021) is prepared pursuant to Section PFM Act 2012 and the PFM (County Government) Regulations 2015. CFSP 2021 has been prepared against a background of a contracting global economy occasioned by the outbreak and the rapid spread of the COVID-19 Pandemic. The Kenyan economy suffered major shocks from the adverse effect of COVID-19 Pandemic in the year 2020. The containment measures to reduce the spreads of COVID-19 disease as well as the significant interruption of the global supply chain led to loss of livelihoods and collapse of business activities. Owing to this phenomenon, the national economy shrank significantly by 5.7 percent in the second quarter of 2020 compared to 4.9 percent growth in the first Quarter of 2020.