|Publisher||Council of Governors (CoG)|
|Year of Publication||2016|
The County Government of West Pokot has no plans of borrowing for the financial year 2016/2017 sincethe budget proposals contained in the fiscal strategy paper 2016 are balanced with the resource envelopeavailable hence there will be no anticipated need for deficit financing. However, as county governmentmatures and its strategic needs grow, there is need for the preparation of a Debt management strategy aspart of the documents supporting budget estimates and meet its financial needs from the financial andmoney markets. The government debt management objective remains two-fold: to raise resources throughborrowing to meet County government budgetary requirements at a minimum cost and prudent level of risk;and to promote the development of domestic debt markets.The purpose of the 2016 MTDS is to guide County Government borrowing in the future financial years whileproviding a path for sustainable level of debt over the medium term. The MTDS evaluate both costs andrisks of various scenarios and recommends an optimal debt management strategy for implementationduring the future financial years.The institution arrangements for public debt management will be reviewed to enable the treasury executeits mandate effectively and efficiently under the constitution of Kenya 2010. The implementation of theconstitution requires enormous amount of the resources, part of which will be sourced through borrowing.Its therefore, important to closely monitor the burden of the public debt at county Government level so asnot to undermine economic growth. As we implement the constitution of Kenya, 2010, it is important thatboth the burden of and benefit from public borrowing is equitably shared between the present and futuregenerations. Indeed, it is one of the key principles of public finance under Article 201 of the Constitution ofKenya, 2010. Going forward, its therefore expected that County Governments fiscal strategies will begeared towards maintaining a sustainable level of debt.
|Tags||west, pokot, county, debt, managemnt, strategy, 2016 West Pokot CDMS, Public Finance|