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FY2023-2024 – CRA Recommendation on the Basis for Equitable Sharing of Revenue Between The National and County Governments

The financial year 2023/24 recommendation on the equitable sharing of revenue between the national and county governments has been prepared against a backdrop of a recovery in economic growth following the containment of the corona virus disease pandemic. The world real Gross Domestic Product recorded an accelerated growth of 5.8 percent in 2021. This growth was witnessed across Organisation for Economic Cooperation and Development members, as well as in Africa Eastern and Southern economies. These economies are estimated to have expanded by 5.2 percent and 4.3 percent in 2021 compared to a contraction of 4.5 percent and 2.9 percent in 2020, respectively. Global economic growth is expected to moderate to 4.4 percent in 2022.