|Publisher||Council of Governors (CoG)|
|Year of Publication||2018|
The county budget FY 2017/2018 was implemented under the context of a moderate globaleconomic recovery. The global economy had an estimated growth of 3.7 percent in 2017 up from3.2 percent in 2016. This was due to the recovery in investment, trade and industrial production.The Kenyan economy grew at an average of 4.9 percent in 2017 which is a decline from thegrowth of 5.9 percent in 2016.The main reason for the decline include the uncertaintysurrounding the prolonged electioneering period and adverse weather conditions.The county had a budget of Kshs.9.32 billion in FY 2017/2018.This was to be funded by Ksh7.25 billion from the equitable share of income, Kshs.275million from the county own sourcerevenue and Ksh 655.9 million from conditional grants. The county received Ksh7.25 billionfrom the equitable share of income up from Ksh 5.53 billion received in the FY2016/2017.There was a slight improvement in the revenue collected from county own sources.The county government collected Kshs.226 million from local revenue sources in 2017/2018which is an increment of about 2.3 percent from the Kshs.221million collected in FY 2016/2017.On the expenditure side, performance in terms of funds absorption went down by a slight marginfrom74.8 percent in FY 2016/2017 to 72.0 percent in FY 2017/2018.The County spent Kshs.6.71 billion against a budget of Kshs.9.32 billion compared to previous financial year 2016/17where the expenditure was Ksh 5.95 billion against a budget of Kshs 7.95 billion.The economy is projected to recover to 5.9 percent in 2018/2019 and around 7.0 percent over themedium term 2022/2023. The main driving forces will be(i)the increased investments in strategicareas under the Big Four Agenda(ii)the implementation of MTP III projects of the vision2030(iii)the relatively high rainfall experienced across the country which is expected to spurgrowth in agriculture and other related sectors(iv)the preservation of the macroeconomic stabilityand improving security. The county anticipates growth in total income of about 5 percent in FY2019/2020 from Kshs 9.1 billion in 2018/2019. The projected income for FY 2019/2010 will beKsh 9.5 billion. Out of this Kshs 4.5 billion will be allocated to development programs whichtranslate to 48 percent while Kshs 4.9 billion which is about 52 percent will fund recurrentexpenditures.County Budget Review and Outlook Paper 2018Budget and Economic Planning Division Page viiiWe will strengthen local revenue collection through effective operation of the automated revenuemanagement system and enactment of the Finance Bill 2018. On the expenditure side we willintensify our efforts to ensure prudent management of public funds by strict adherence to thePublic Finance Management Act 2012.We all monitor risks to our fiscal plan and deviseappropriate mitigation measures.
|Tags||kwale, county, budget, review, and, outlook, paper, fy, 2017, 2018, kwale-county-budget-review-and-outlook-paper-fy-2017-2018, Public Finance|