| dc.description.abstract | This is the second County Budget Review and Outlook Paper (CBROP) prepared in line with the Public Finance Management Act (PFM) Act, 2012 under the new administration. It presents the fiscal outcome for 2022/2023 and how it affects the financial objectives set out in the PFM Act, 2012. The updated macro-economic and fiscal forecasts therein also lays the basis for the revision of the Financial Year 2023/2024 budget in the context of the Supplementary Estimates. It also sets out the broad fiscal parameters for the 2024/2025 budget and the medium term. The fiscal performance was largely as programmed, despite shortfalls in revenues and low absorption in development expenditures.
In this 2023 CBROP, the County Government’s main emphasis is on the fiscal policy strategy, whose focus is on maintaining a strong revenue effort and building a strong growth of total expenditure while shifting the composition of revenue expenditure to productive capital expenditures and ensuring efficiency and effectiveness in the use of public resources. A strategy that recognizes the need to strike a balance between development and fiscal debt sustainability, with emphasis on higher investments in the key county priorities namely: Wealth creation, Social development, environmental conservation, infrastructure, ICT and devolution and governance. | en |
