Trans Nzoia County Budget Review and Outlook Paper 2013

Abstract

The County Budget Review and Outlook Paper (CBROP) present the fiscal outcome for 2013/2014 and how this affects the financial objectives set out in the 2014 Budget Policy Statement (BPS). The updated macroeconomic outlook therein also provides us with a basis to revise the 2014/2015 Budget in the context of the Supplementary Estimates, as well as set out the broad fiscal parameters for the next Budget. Very briefly, we went through the challenges of last Financial Year and closed the year satisfactorily despite the revenue shortfall and significant expenditure reprioritization. The outcome has had implications on the base in which the fiscal projections for the current Financial Year were based on. While the macroeconomic environment has stabilized significantly, the fiscal outcome for 2013/2014 and uncertainty in economic terms call for caution in fiscal projections. Under these circumstances, we remain steadfast in maintaining macroeconomic stability, even in the face of expenditure pressures associated with implementation of the Constitution under the guidelines laid down in the PFM Act 2012.