Siaya County Fiscal Strategy Paper 2024

Abstract

The 2024/25 County Fiscal Strategy Paper (CFSP) is the second to be prepared under the Nyalore administration. It sets out the primary programs and policies to be implemented in the Medium-Term Expenditure Framework (MTEF) period. The CFSP-2024/25 comes at a time when the County Government is unveiling the third generation County Integrated Development Plan (CIDP) for 2023-27. This document has prioritized implementation of economic recovery and growth strategies in the MTEF period with a focus on Social Enterprise, Commercial, Industrial and Market Systems Programs geared towards agriculture-led industrialisation. The CFSP-2024/25 is framed against a backdrop of global economic slowdown underpinned by elevated global inflation, the lingering effects of the COVID-19 pandemic, and persistent supply chain disruptions and the El-Nino aftereffects that have created urgency on food security and climate change interventions. This urgency allows us to refocus investments on mitigation, adaptation and firm resilience. As the effects of COVID-19 pandemic started to fade away, the county registered improved growth across the sectors. However, the momentum has been slowed down by the rising inflation that has disrupted global trade through increased fuel, fertilizer and food prices.