Nyamira County Budget Review and Outlook Paper 2023

Abstract

The County Budget Review and Outlook Paper (CBROP) 2023 has been prepared in line with the Constitution of Kenya 2010 and Section 118 of the PFM Act, 2012. It presents the fiscal performance for 2022/2023 Financial Year and the outlook in the medium-term period. The updated macroeconomic outlook provides a basis to revise the 2023/2024 budget in the context of the supplementary estimates, as well as setting out the broad fiscal parameters for the next medium-term framework budget. In terms of resources mobilization, the county realized Kshs. 6,596,964,190, against a target of Kshs.7,94,885,582 in 2022/2023. This included locally generated revenue amounting to Khs. 284,583,628 an increase from Kshs. 168,276,586 raised in 2021/2022. Despite the bad performance in local revenue generation, it still fell short and worse of the Kshs. 497,916,392, targets for the year. A number of measures have been put in place in order to address challenges of local revenue including automation of revenue collection as well as review of the Finance Act. On expenditure, the County absorbed Ksh.5,951,598,374 against a target of Kshs. 7,094,885,582. The actual expenditure comprised of Ksh.1,371,341,594 and Ksh.4,580,256,780 as development and recurrent expenditures respectively and represented an absorption rate of 63% for development while recurrent absorption rate was 84%. This is a challenge that will be addressed by ensuring timely procurement and strengthening monitoring of progress of development projects.