Kiambu County Budget Review and Outlook Paper 2023

Abstract

The 2023 County Budget Review and Outlook Paper (CBROP) is being formulated against an improving economic outlook albeit a slow growth recovery among economic sectors and regions. It was prepared against a backdrop of continued global uncertainties, reflecting high but easing inflationary pressures, weak global growth outlook, heightened geopolitical tensions particularly the conflict in Ukraine, concerns about financial sector stability in advanced economies, and increased food insecurity due to climate-related shocks. The year 2022 having been an election year with heightened political activities, especially in the first quarter of 2022/23 could have likely eroded investor confidence and affected projected growth. Several economic shocks resulting from the adverse impact of climate change, lingering effects of COVID-19, global supply chain disruption and the impact of Russia-Ukraine conflict have largely contributed to slowdown in economic activities, high inflation and weakening of the global currencies thus affecting the economic recovery in the country.