The International Monetary Fund (IMF) predicts a 4.3% boost in Burundi's economy this year, up from 2.7% in 2023.
In their statement on Monday, the IMF explained that this growth is expected due to strong farming, productive investments, and ongoing reforms. They also noted that fuel shortages held back economic activity last year.
Burundi, population of 12 million, relies heavily on income from farming, especially tea, and coffee. In 2022, the Russian-Ukrainian conflict impacted Burundi, causing inflation and spiking food and fuel prices.
By the end of 2023, Burundi's foreign exchange reserves were $96.4 million, covering only 0.8 months of imports.
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