Nyandarua County Fiscal Strategy Paper 2023

Abstract

The County Fiscal Strategy Paper (CFSP) 2023 underpins the county fiscal and budget framework by laying out strategic priorities and fiscal policy – that is what the county plans to do regarding revenue, expenditure, and debt management over the medium-term. Importantly, this document sets the sector and program resource ceilings that guide the budget estimates for each sector and program, which are used to set budget projections. It highlights the policy focus for the County Government for implementation in the Financial Year 2023/24 and over the Medium Term. The County is reliant on global and National economic performance while preparing its Fiscal Outlook and Strategy. To this purpose, the County expects that, among other determining variables, both global and national economic performance will promote the implementation of the planned programs and projects while formulating the CFSP. The CFSP is framed against a global economic slowdown underpinned by the ongoing Russia-Ukraine conflict, elevated global inflation, the lingering effects of the COVID-19 pandemic, and persistent supply chain disruptions and the drought effects reversing gains in poverty reduction and inequality, but above all promoting social conflicts. These effects are compounded and amplified by declining manufacturing productivity; skewed access to finance for business and development; rigidities in business regulatory framework that have created urgency on food security and climate change effects.