The International Monetary Fund (IMF) projects Burundi’s economy to expand 4.3% this year from 2.7% in 2023.<\/p>\n
In a statement released by the fund on Monday, the IMF said “growth is projected to accelerate … supported by strong agricultural production, productive investment, and the ongoing reforms”. The fund added that fuel shortages had hampered economic activity in 2023.<\/p>\n
Burundi with a population of 12 million relies heavily on agriculture revenues, especially from tea and coffee.<\/p>\n
The east African nation’s economy had experienced a shortage of hard currency after a 2015 political crisis that prompted donors to suspend aid. While in 2022 the economy was affected by the inflationary consequences of the Russian-Ukrainian conflict, which resulted in soaring food and fuel prices.<\/p>\n
The European Union then agreed to resume financial support, while United States also pledged aid.<\/p>\n
By the end of 2023, Burundi’s foreign exchange reserves stood at $96.4 million, or 0.8 months of import cover<\/p>\n
Inflows from remittances, and gold exports gave some relief, according to the IMF.<\/p>\n","protected":false},"excerpt":{"rendered":"
The International Monetary Fund (IMF) projects Burundi’s economy to expand 4.3% this year from 2.7% in 2023. In a statement released by the fund on Monday, the IMF said “growth is projected to accelerate … supported by strong agricultural production, productive investment, and the ongoing reforms”. The fund added that fuel shortages had hampered economic […]<\/p>\n","protected":false},"author":6,"featured_media":10642,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"Africa News","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"1","single_blog_custom":"","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"0","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"0","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"0","show_post_reading_time":"0","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"0","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"1","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_social_meta":[],"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[29,32],"tags":[349,2018,1436,2017],"class_list":["post-10641","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-africa","category-economy","tag-burundi","tag-coffee","tag-international-monetary-fund","tag-tea"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/10641","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=10641"}],"version-history":[{"count":0,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/10641\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/10642"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=10641"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=10641"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=10641"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}