Kiambu County Budget Review and Outlook Paper 2022

Abstract

This paper has been prepared in accordance with section 118 of the Public Finance Management Act, 2012 and its regulations. It provides actual fiscal performance for the FY 2021/2022 given the budget appropriations for the same year. It further provides an overview of how the actual performance of the FY 2021/2022 affected our compliance with the fiscal responsibility principles and the financial objectives spelt out in the PFM Act as well as information showing changes from the projections outlined in the 2021 County Fiscal Strategy Paper. It reviews the recent economic developments and provides updated forecasts with sufficient information to show changes from the projections outlined in the recent County Fiscal Strategy Paper (2021 CFSP). The 2022 County Budget Review and Outlook Paper (CBROP) is being prepared against a background of global economic downturn and under a new administration. The year 2022 having been an election year with heightened political activities especially in the fourth quarter of 2021.22 could have likely eroded investor confidence and affected projected growth. Several economic shocks resulting from Covid-19 pandemic and Ukraine- Russia war also have largely contributed to slow down of economic activities, higher than expected inflation and weakening of the major global currencies thus affecting the economic recovery in the country.