The Theme of the 2018 CFSP is ‘An All-Inclusive Socio-Economic Transformation for Shared Prosperity’. Section 117 (2) of the PFM Act requires the County Treasury to align its County Fiscal Strategy Paper with the national objectives in the Budget Policy Statement. The theme is in line with the transformative pillars of the 2018 BPS which is Creating jobs, transforming lives – “the big four” plan. This strategy paper serves as a guide to the budgeting process and provides projections of the County’s revenue, recurrent and development expenditures. It also examines the anticipated risks in the medium term, structural measures and strategic interventions required.
In addition to the foregoing, the CFSP provides the sector ceilings for the MTEF period ensuring continuity in resource allocation from the last financial year consistent with the MTEF budgeting.
This will help in resource allocation and prioritization of the key sectors necessary for the county’s take off. The productive sectors of the local economy are expected to receive enhanced budgetary allocations to help in unlocking the economic potential of the county. The completion of the Great North Road between is expected to greatly improve trade and investment in the region and indeed put Marsabit on the national and international maps.