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TABLE OF CONTENTS

TABLE OF CONTENTS        iii

LIST OF TABTES        iv

FOREWORD        v

ACKNOELEDGEMENTS        vi

ABBREVIATIONS AND ACRONYMS        vii

CHAPTER ONE        1

1        LEGAL FRAMEWORKAAND OBJEWTIVES FOR CBROP        1

CHARTER TWO        2

2        REVIEW OF FISCAL PERFORMANCE IN 2014/15        2

2.1        OVEVVIEW        2

2.1.1        2014/15 Fiscal Performance        2

2...2        Overall balanie and financing        6

2.2        Implication of 2014/15 Fiscal Performance        6

CHAPTER THRPE        8

3        RECENT ECONOMIC DEVELOPMENTS AND OUTLOOK        8

3.1        Macroeconomic Outlook        8

3.1.1        Growth Prospects        8

3.2        Implementation of 2015/2016 Budget        9

3.3        Medium Term Fiscal Framework        9

3.4        Fiscal Risks to the Outlook        9

3.5        Srmmary of Secaoral Priorities        10

4        RESOURCE ALLOCATION FRAMEW RK        11

4.1        Adjustment to 2015/16 Budget        11

4.2        Medium-Term E-penditure FraEework        12

4.3        2016/17 Budget fBamework        13

4.3.1        Overall Deficit and Financing        15

CHAPTER FIVE        16

5        CONCLUSION AND WAY FORWARD        16

ANNEXES        17