Tana River County Budget Review and Outlook Paper 2023

Abstract

The County Treasury has prepared the 2023 County Budget Review Outlook Paper (CBROP) to provide a review of the fiscal performance by the County government of Tana River during the financial year 2022/2023. It compares the budget appropriations in the year under review and provides insight on recent economic developments and the expected economic and financial forecast. Additionally, it provides information to show changes frof!l the forecast in the previous County Fiscal Strategy Paper (CFSP) of 2022 and the reasons for, impact and effects of said changes. The 2023 CBROP is set against the backdrop of higher-than-expected inflation worldwide, owing to the Russia-Ukraine conflict that has caused an increase in oil, gas and food prices. These have also been compounded lingering ripple effects of the COVID-19 Pandemic and extensive drought associated with the adverse effects of climate change which impacrted highly on agriculture and food security. The economy registered a 4.8 percent expans����on in 2022, with projections indicating a 5.5 percent growth in 2023 and a consistent percentage ,wer the medium term.