Kwale County Fiscal Strategy Paper 2022

Abstract

The 2022 County Fiscal Strategy Paper (CFSP) is prepared against a background of expected rebounding of most world economies after the slump caused by the effects of the COVID-19 pandemic. The world is experiencing economic recovery courtesy of the gradual opening of economies, strong fiscal support and widespread vaccinations. The global economy is projected to grow by 5.9 percent in 2021 from a contraction of 3.1 percent in 2020. The relaxation of the COVID-19 containment measures and gradual opening of the economy have resulted in a strong rebounding of the economy. Economic growth in Kenya is projected to rebound to 6.0 percent in 2021 from a contraction of 0.3 percent in 2020.The economic recovery is supported by the prevailing stable macroeconomic environment, ongoing implementation of strategic priorities of the National Government under the “Big Four” Agenda and the third Economic Stimulus Programme. The Kwale county economy has a potential to grow owing to implementation of infrastructural projects of the National Government‘s “Big Four” agenda including the upgrading of the Kwale-Kinango road to bitumen standard, the Dongo Kundu interchange project and the Shimoni Port Development project. These coupled with the impressive picking of the tourism sector earnings and increased mining activities will stimulate the growth of the local economy.