Bungoma County Budget Review and Outlook Paper 2019

Abstract

The 2019 Budget Review and Outlook Paper has been prepared at a time when the global economy is weakening amid escalating trade tensions, tighter global financial conditions and higher policy uncertainty across many economies. Global economic activity is expected to slow down to 3.2 percent in 2019 from 3.6 percent in 2018 with prospects across countries and regions remaining uneven. Growth prospects for sub-Saharan Africa continue to strengthen, with a projected growth of 3.4 percent in 2019 from 3.1 percent in 2018. On the national scene, economic growth has remained strong and resilient despite the emerging global challenges, supported by ongoing public and private sector investments and stable macroeconomic environment. The economy expanded by 6.3 percent in 2018 up from the 4.9 percent registered in 2017. The growth momentum continued in the first quarter of 2019, with the economy expanding by 5.6 percent despite the delayed rainfall. We project this growth momentum to continue culminating to a growth of 6.0 percent in 2019 underpinned by the resilient services sector, positive business sentiments, even as programmed activities under the “Big Four” Plan gain traction.