Baringo County Fiscal Strategy Paper 2024

Abstract

The policy outlined in this CFSP draws from the national development agenda as outlined in the Fourth Medium Term Plan (MTP IV) of the Vision 2030 and targets to attain the Sustainable Development Goals (SDGs) of the United Nations. The policy supports investments in “The Bottom – Up Economic Transformation Agenda for Inclusive Growth” Which include the core pillars namely, Agricultural Transformation; Micro, Small and Medium Enterprise (MSME) Economy; Housing and Settlement; Healthcare; and Digital Superhighway and Creative Industry, and in the county context tourism promotion and access to water for all domestic, livestock and irrigation purposes. As a build-up on the County Budget Review and Outlook Paper (CBROP) 2023, which analyzed the performance in the FY 2023/2024 financial year’s budget, scanned the current year’s fiscal environment and provided an outlook for the FY 2024/2025 and the medium term, this CFSP shows the allocation of resources in all sectors and departments. The main sources of county revenue, in the medium term, will be the equitable share, conditional grants, local revenue collections and donor funding. In the FY 2024/2024 and the medium term, the County Government proposes a series of measures to increase revenue and balance its fiscal spending. The County will focus on broadening the capital base through increased revenue streams with a view to stimulate economic growth and development. This paper, therefore, puts into perspective how the County anticipates expending its scarce resources in the FY 2024/2025 and the medium term.