Mombasa City County Budget Review and Outlook Paper 2022

Abstract

The Mombasa County Budget Review and Outlook Paper (CBROP) 2022, has been prepared against a background of economic slowdown occasioned by the ongoing Russia-Ukraine conflict, effects of the COVID-19 containment measures, higher-than expected inflation worldwide triggered by higher global oil and food prices and the impact of the global monetary policy that has created tighter financial condition. As a result, the global economy is projected to slow down to 3.2 percent in 2022 from 6.1 percent 2021. It presents the recent economic developments and actual fiscal performance of the FY 2021/2022 and makes comparisons to the budget appropriations for the same year. It further provides updated forecasts with sufficient information to show changes from the projections outlined in the latest County Fiscal Strategy Paper (CFSP), developed in October 2021. In this Paper, we will also provide an overview of how the actual performance of the FY 2021/2022 affected the County’s compliance with the fiscal responsibility principles and the financial objectives as detailed in the 2021 CFSP.