Garissa County Fiscal Strategy Paper 2024

Abstract

The Garissa County Fiscal Strategy Paper 2024 was prepared pursuant to section 117(1) and (6) of the Public Finance Management Act (PFMA), 2012, and also adheres to provisions of Section 26 of the Public Finance Management (County Governments) Regulations, 2015. It provides the fiscal policy direction towards the budget 2024/2025 and shapes the budget priorities for the second year of the CIDP 2023-2027. The paper outlines the county's fiscal policy framework for the upcoming fiscal year, setting forth the economic priorities, financial forecasts, budgetary allocations, and strategic initiatives aimed at promoting sustainable economic growth and development within the county. This document is prepared in the context with the draft budget policy statement 2024, adhering to the principles of responsible fiscal management, transparency, and accountability. The paper begins with an overview of the global and national economic environment, analyzing its impact on the local economy of Garissa County. It highlights the county's economic strengths, challenges, and opportunities, with a special focus on sectors such as agriculture, trade, and tourism. The strategy underscores the importance of resilience and adaptability in the face of external economic shocks. It also, reviews the fiscal performance of Garissa County for the past fiscal year, detailing revenue collections, expenditure patterns, and budget execution rates. It presents projections for the county's fiscal outlook, including expected revenue streams and expenditure priorities. The strategy emphasizes fiscal discipline and efficiency in resource allocation to ensure the alignment of spending with strategic priorities.