NYERI COUNTY FISCAL STRATEGY PAPER 2017

Publisher Council of Governors (CoG)
Year of Publication 2017
Category
County Nyeri
Description

The 2017 County Fiscal Strategy Paper (CFSP) is prepared against theCountrys strong economic growth of 5.6 percent in 2015 compared to theaverage growth of 3.4 percent for Sub Saharan Africa and 3.2 percent forglobal economy. Further, the Countrys macroeconomic performanceremains broadly stable with overall inflation within target, Kenya Shillingexchange rate to the US dollar remaining stable and low short terminterest rates, a reflection of ample liquidity in the money market. Theeconomy is projected to grow at 6.0 percent in 2016 and over 6.5 percentin the medium term.This CFSP, 2017, also comes at the brink of completion of the first CountyIntegrated Development Plan (CIDP), 2013-2017. The preparation of thesecond generation County Integrated Development Plan, will commenceimmediately after the mid-term review of the current CIDP slated forJanuary-February, 2017. The review will take stock of the milestonesachieved so far and transiting to the CIDP 2018-20122. The secondgeneration CIDP will be aligned to the third Medium Term Plan (MTP III)of the Kenya Vision 2030 for the period 2018-2022As such, the policy goals, priority programs and fiscal framework in thisCFSP are revised to reflect emerging realities and priorities in the CIDP2013-2017. The CIDP 2018-2022 will mainstream the SustainableDevelopment Goals (SDGs) based on key thematic areas that includeadvocacy and awareness creation; domestication and localizing SDGs;capacity building; stakeholder mapping and engagement; monitoring andreporting, and resource mobilization.The fiscal framework will ensure sustainable debt and improvement inexpenditure management. In particular, we plan to gradually lower ourfiscal deficit (by closing the gap between revenue and expenditure), overthe medium term, while at the same time providing sufficient room tofinance productive expenditure so as to achieve and sustain equitablegrowth. Further, expenditures will be scrutinized carefully to ensureiiiquality and alignment to the countys economic transformation agenda asoutlined in the CIDP and strategic interventions of county interest.This being the fourth CFSP since the onset of the economic transformationagenda, tremendous achievements have been realized from the pastinvestments. These include among others: improved infrastructureparticularly upgrading of roads to all weather standards (where we arealmost covering all earth service roads) and opening up new ones,installation of street lights in major trading centers among other socialeconomic initiatives. We have also greatly improved the businessenvironment for investment opportunities, enhanced security throughcommunity policing and adherence to AGPO by youth and women.Going forward, spending on roads, water, education, health and socialsafety net remains a priority. Implementation of priority programs will bemonitored closely so as to realize benefits and maintain positive growthmomentum, create jobs, reduce poverty and inequality.Due to the fact that the General Elections will be held in August 2017, thisCFSP, 2017 is prepared against a revised/ restructured calendar in orderto align it to this change to avoid delays that could arise from electionrelated activities.The policy intentions outlined in this CFSP are a product of wideconsultations with relevant stake holders. I would like to thank the entireCounty leadership for steering the preparation of this document. To thestaff of the County Treasury and other county officials, Asante Sana foryour contributions and understanding as we build a united and prosperousNyeri.

Tags nyeri, county, fiscal, strategy, paper, 2017, nyeri-county-fiscal-strategy-paper-2017, Public Finance

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