Kwale County Budget Review and Outlook Paper 2022/2023

Abstract

This 2023 C – BROP has been prepared in accordance with the provisions of Section 118 of the PFM Act, 2012. The paper provides a review of the county government’s fiscal performance in FY2022/2023 including compliance to the fiscal responsibility principles and the financial objectives set in the PFM Act 2012. It also gives updates on the macroeconomic environment and outlook for FY2024/2025, revenue and expenditure projections and the provisional sector expenditure ceilings. This paper is prepared against a backdrop of a continued global uncertainties, reflecting high but easing inflationary pressures, weak global growth outlook, heightened geopolitical tensions particularly the conflict in Ukraine, concerns about financial sector stability in advanced economies, and increased food insecurity due to climate – related shocks. The Kenyan economy however, is expected to remain strong and expand by 5.5 percent in 2023 (5.6 percent in FY2023/24) and 5.7 percent in 2024 (5.9 percent in FY2024/25).