Burundi sees jump in 2022/23 spending, 8% of GDP deficit
NAIROBI, June 21 (Reuters) - Burundi plans to raise overall spending 39.5% to 1.39 trillion Burundi francs ($689.91 million) for the 2022/2023 (July-June) budget and expects a deficit of 8% of gross domestic product, Finance Minister Domitien Ndihokubwayo said on Tuesday.
Presenting the budget to parliament, Ndihokubwayo said the government would allocate 270 billion francs to railway construction as part of a four-year project costing 1.4 trillion francs.
The east African country's largely agricultural economy is seen expanding 3.6% this calendar year, up from 2.4% last year, as an easing of COVID-related restrictions boosts activity across all sectors, the International Monetary Fund has said.
With a population of 12 million, Burundi's economy is heavily dependent on the production of tea and coffee, sectors which are only beginning to recover following years of conflict and political upheaval.
($1 = 2,014.7500 Burundi francs)
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