Uasin Gishu County Fiscal Strategy Paper 2024

Abstract

The 2024 CFSP is the second developed during the administration of H.E. Hon Dr. Jonathan Bii Chelilim, and it outlines the Administration's strategic priority policies, initiatives, and reforms that will be implemented in the Medium-Term Expenditure Framework (MTEF). The paper is being developed at a time when the country is facing challenges as a result of high gasoline prices caused by the ongoing conflict between Ukraine and Russia, as well as raised global interest rates due to inflationary pressures limiting access to credit and worsening debt servicing expenses. In the context of these challenges, Kenya’s economy remains resilient with an impressive economic performance. With a 5.45 percent growth rate in the first half of 2023, the economy is resilient and still strong. This increase is significantly higher than the projected averages for the world and Sub-Saharan Africa, which are 2.9 and 3.3 percent, respectively. From 4.8 percent in 2022 to 5.5 percent in 2023 and 2024, the economy is expected to grow. The rise of the private sector on a large scale, the services sector's continuous strong performance, the agricultural sector's comeback, and the ongoing execution of policy measures to stimulate economic activity in the BETA's key areas will all contribute to this growth outlook at the national scene.