Ministry of Finance

The Third Strategic Plan 2021/22 - 2025/26 acknowledges the progress made in the previous strategic plans, lessons learnt and national's aspiration to be a globally competitive and prosperous country with a high quality of life in 2025. The previous plans have been instrumental in policy formulation and its execution. The second Plan, in particular, sustained macroeconomic stability, facilitated massive investment in infrastructures, propelled public financial management reforms and ensured more financial resources are transferred to Local Government Authorities amid effects of COVID -19 pandemic. In the same period, the Ministry remained focused to provide strategic leadership in public financial management, development of financial information management systems, involves citizens in formulation and execution of national plans and ensures periodic public expenditure reports are available for public use.

Despite progress made, the second Plan 2017/18 - 2020/21 fell short in its overall target of ensuring economic growth sustained from 7.0% in 2017 to 8% in 2021.

The flipside is mainly attributable to a less than anticipated growth of strategic sectors, particularly those associated with tourism activities amid COVID 19 pandemic. Unexpectedly, interest rate endures a serious concern to the public and the Ministry at large.

This Strategic Plan, therefore, aligns the policy goals, priority interventions and investment plans to support initiation, execution and delivery of both public and private investments in order to boost economic growth. Further, the Ministry will ensure effective coordination of monetary and fiscal policies to influence interest rate, strengthen the linkages between planning and budgeting as well as continued efforts to ensuring prudent borrowing for overall macroeconomic stability. Besides, this Plan provides the necessary framework for implementing the Ministry's core functions and tracking the performance of commitments against set targets towards the anticipated socio-economic transformation.

Given the strategic objectives earmarked and the implementation structure laid out, I urge all divisions and units to efficiently coordinate the execution of the Plan in order to achieve the set outcomes and goals. I thank all staff for their valuable contribution and their participation in preparation of this Plan. I further extend my Given the strategic objectives earmarked and the implementation structure laid out, I urge all divisions and units to efficiently coordinate the execution of the Plan in order to achieve the set outcomes and goals. I thank all staff for their valuable contribution and their participation in preparation of this Plan. I further extend my appreciations to our esteemed stakeholders who continued to work closely with the Ministry in ensuring the Ministerial Strategic objectives are realized in line with national broad objectives.

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