The 2019 County Fiscal Strategy Paper (CFSP) is prepared against a background of a steady national economy which remains resilient and is projected to grow by 6.0 percent in 2018 from 4.9 percent in 2017. Further, our macroeconomic performance remains broadly stable with overall inflation within target, short term interest rates remaining low and stable as well as a stable exchange rate of the Kenya Shilling to other currencies.
This CFSP comes at early stages of the Third Medium Term Plan (MTP III) of the Kenya Vision 2030 as well as the County Integrated Development Plan (CIDP II) both covering the period 2018-2022 and builds on the gains made in key sectors of the economy during the Second Medium Term Plan (MTP II) and CIDP I. In this regard, the policy goals, priority programs and fiscal framework are aligned to support achievement of the objectives of MTP III and ultimately the Vision 2030.
The CIDP II prioritizes investment in areas with the greatest multiplier effect on the county economy; which are:
- Promoting all-inclusive growth and employment opportunities
- Investing for socio-economic transformation
- Increasing Households incomes and promoting equity
- Enhancing the availability and equity of gainful employment
- Improving the stock and quality of economic infrastructure
- Increasing access to quality social services
- Promoting science, technology, innovation to enhance competitiveness
- Enhancing human capital development
- Strengthening good governance and security
- Promoting a sustainable population
- Promoting sustainable access and use of the environment and natural resources
The CFSP outlines measures to finance the annual budget as well as strategies to ensure economy of inputs, efficiency of outputs and effectiveness of outcomes. Robust results tracking approaches will be pursued in the medium term to assure project relevance and enhance impact and sustainability of our development agenda.
Certainly, we will augment economic transformation by implementing key programs under ‘The Big Four’ Plan for job creation and shared prosperity. The focus will be on boosting the manufacturing activities, improving food and nutrition security, achieving universal health coverage and supporting construction of decent and affordable housing for Kenyans. In addition, priority will be given to development enablers such as macroeconomic stability, business environment infrastructure, security, social sector investments, and public sector reforms.
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| Bungoma-County-Fiscal-Strategy-Paper-2019-2019.pdf | Download |