NAIROBI, Kenya – Kenyan civil society organizations are flexing their muscles, taking an active role in shaping the country’s fiscal future. Following a call from the National Assembly, the Civil Society Parliamentary Engagement Network (CSPEN) gathered its members to jointly review and submit a memorandum on the Draft 2023 Budget Policy Statement (BPS) and Medium-Term Debt Management Strategy (MTDMS).
This collaboration was a crucial to enhance public participation in Kenya’s fiscal management which only has a short window of 14 days. Taking into consideration that the BPS is considered a cornerstone of Kenya’s public finance management, the government’s spending priorities, goals, and medium-term direction. This year’s statement emphasizes reducing the fiscal deficit and mitigating the risks associated with Kenya’s rising public debt.
Moreover, the Medium-Term Debt Management Strategy, delves specifically into Kenya’s debt management. It seeks to lower debt-related costs and risks, ensure debt sustainability, and explore diverse funding sources while considering macroeconomic factors like growth, inflation, and exchange rates.
CSPEN’s involvement underscores the importance of civil society engagement in fostering accountability, transparency, and public trust. By actively participating in the budget review process, these organizations ensure citizens’ interests are considered and contribute to effective and responsible governance.
While Kenya strives to navigate its fiscal landscape, collaborative efforts like those undertaken by CSPEN remain essential to shaping policies that benefit all citizens and pave the way for a sustainable economic future.