Siaya County Fiscal Strategy Paper 2023/2024

Abstract

The 2023 County Fiscal Strategy Paper (CFSP) is the first to be prepared under the new administration, the Nyalore Government. It sets out the primary programs and policies to be implemented in the Medium-Term Expenditure Framework (MTEF). The CFSP-2023 comes at a time when the County Government is finalizing the preparation of the third generation County Integrated Development Plan (CIDP) for 2023 to 2027 of the Vision 2030 that will prioritize implementation of economic recovery and growth strategies of the new administration. The CFSP-2023 is framed against a backdrop of global economic slowdown underpinned by the ongoing Russia-Ukraine conflict, elevated global inflation, the lingering effects of the COVID-19 pandemic, and persistent supply chain disruptions and the drought effects that have created urgency on food security and climate change interventions. This urgency allows us to refocus investments on mitigation, adaptation and firm resilience. As the effects of COVID-19 pandemic started to fade away, the County Government of Siaya contributed 1 percent to the National GDP of 7.5 percent in 2021. However, the momentum has been slowed again by the Russia-Ukraine conflict that has disrupted global trade through increased fuel, fertilizer and food prices. For the first time in five years, inflation rate in Kenya is above the Government target range mainly driven by supply side constraints occasioned by the external shocks as well as the drought effects. In addition, the drought impacts in the economy has created a strong focus on food security and climate change. It is therefore necessary that going forward, the county government prioritizes interventions that will unlock economic growth and confer benefits to intended beneficiaries. To achieve this, the county government has taken a strategic policy shift that requires application of resources towards completion, equipping and operationalization of ongoing infrastructure projects. In this regard therefore, county government entities with ongoing projects across the economic, social and enablers pillars have been given priority in resource allocation in this document.