Homa Bay County Budget Review and Outlook Paper 2014

Abstract

The objective of this CBROP is to provide a review of the previous fiscal performance and how this impacts the financial objectives and fiscal responsibility principles set out in accordance to section 26 of the PFM act, 2012. This together with the updated national macroeconomic outlook will provide a basis for revision of the current budget in the context of Supplementary Estimates and the broad fiscal parameters which will provide the basis for the next budget and the medium term development agenda. Details of the fiscal framework and the medium term policy priorities are provided in the CFSP 2013/14. The PFM Administration and Management Regulations 2013 requires that the budget review and outlook paper, must at least include a review of recent economic development in the county and a discussion of the medium-term outlook as well as a discussion of the following year’s prospects of the major expenditure and revenue categories and the medium term forecast;