Trans Nzoia County Fiscal Strategy Paper 2024

Abstract

This County Fiscal Strategy Paper (CFSP) 2024 has been formulated in line with the requirement of Section 117 of the PFM Act 2012 and the PFM (County Government) Regulations 2015. This is the CFSP second in the plan period 2022-2027 and reaffirms the priority policies and strategies of the County administration of spearheading economic turnaround as envision in H.E Governor’s Manifesto “making Trans Nzoia great”. The policy document takes cognizance of the development priorities and strategies outlined in the 3rd generation County Integrated Development plan (CIDP) 2023-2027. The paper presents the financial outlook on expenditures and revenues for the medium term, provides the policy framework guiding resource allocation across the county departments and specifies the sources of revenue which will finance the proposed expenditure for the Fiscal year 2024/2025 and the Medium Term. The policy paper has been formulated in the background of anticipated economic recovery following slow down occasioned by negative global and persistent shocks that have pushed the Kenyan economy to its lowest vibrant level. These shocks include global supply chain disruptions due to ongoing conflicts in Eastern Europe and the Middle East; high interest rates limiting access to credit and exacerbating debt servicing costs; significant losses and damages due to frequent extreme weather events; and elevated commodity prices such as petroleum products on account of increased geopolitical fragmentation and global oil supply cuts.