|Publisher||Council of Governors (CoG)|
|Year of Publication||2020|
The Nyeri County Budget Review and Outlook Paper (CBROP), 2020, is prepared against thebackdrop of a contracting national economy occasioned by the outbreak and the rapid spread ofthe Covid-19 pandemic. The pandemic and the attendant containment measures has led tocontraction of the national economy disrupting businesses, including farming and leading to lossof livelihoods for millions of people nationally.In the country, the pandemic and its containment measures have not only disrupted our ways oflives and livelihoods, but to a greater extent business and farming. Consequently, the nationaleconomy grew by 4.9 percent in the first quarter of 2020 compared to a growth of 5.5 percent ina similar period in 2019. Overall, the national economy is projected to grow by 2.6 percent in thecalendar year 2020 and bounce to 5.3 percent in 2021. In terms of fiscal years, the economy isprojected to grow by 4.0 percent in the FY 2020/2021 and 5.9 percent over the medium term.To cushion citizen and businesses from the adverse effects of Covid-19 pandemic and supporteconomic activities, the National Government moved swiftly to implement various fiscalmeasures in the context of the Finance Act, 2020 and monetary measures. Evidently thesemeasures did provide the much needed relief to the economy and provided additional disposableincomes to the people and businesses.Due to the cessation of movement, closure of businesses and other Covid -19 containmentmeasures our county has continued to face economic challenges which led to a decline of ourown source revenue in the financial year 2019/2020. The percentage performance was 66.5 ascompared to 83.7 attained in the previous financial year. The coming financial will be nodifferent as most businesses are yet to reopen yet the local revenue contributes more than 13% ofour budget financing.The Government is in the process of preparing the Post-Covid 19 Economic Recovery Strategywhich will address the issue of resuscitating businesses and job creation while remaining focusedon the Big Four Agenda. The budget outlays for the financial year 2019/2020 will greatlydetermine the expenditure priorities for the FY 2020/2021 due to the issues of escalating wagebill, pending bills, uncompleted projects and continued Covid-19 containment measures.All county departments and other entities are called upon to operate within the provided budgetceilings so as to avoid unwarranted pending bills as we conclude the FY 2021/2022 preparationprocess. The scare resources will continue to be allocated to the priority needs as identified inthis policy document. Enforcement measures and identification of new own revenue streams willbe intensified to ensure our target is achieved while prudency will be observed in all ourspending.
|Tags||nyeri, department, finance, and, economic, planning, nyeri-department-of-finance-and-economic-planning, Public Finance|