|Publisher||Council of Governors (CoG)|
|Year of Publication||2019|
...The budget proposals contained in the Nyamira County Fiscal Strategy Paper 2019 is balancedwith the resource envelop of the county and as such the County Government of Nyamira hasno plans for deficit financing in the financial year 2019/2020 However, it is worth noting thatthe government debt management objective remains two-fold: To raise resources through borrowing to meet County government budgetaryrequirements for Development at a minimum cost and prudent level of risk To promote and encourage the development of domestic debt markets.The Public Finance Management Act 2012 section 123 (1), Provides that the County Treasuryshall submit to the County Assembly a statement setting out the Debt Management Strategy ofthe County Government over the medium term clearly showing its actual liability in respect ofloans and its plan for dealing with those liabilities.The strategy outlines priorities that will assist in the financial risk reduction. It is for thisreason that the Nyamira County Government recognizes the need for prudence in debtmanagement so as to avoid unwarranted financial risks that emanates from poor debtmanagement strategies. The County is employing significant efforts and resources to ensureimprovement in the debt management as well as enhancing capacity of assessing risks.The Nyamira County Governments debt will only realize sustainability if a prudent debtmanagement and borrowing policy is adopted by the County Government.
|Tags||nyamira, county, government, Nyamira County Medium Term DMS 2019, Nyamira County MTDMS 2019, CoG of Nyamira Debt Management And Strategy Paper 2019, Public Finance|