Burundi’s parliament passed the government’s planned budget of 1.7 trillion francs ($869.7 million) for the financial year starting July, up 8% from expenditure for the current fiscal year.
Friday’s measure puts priority on areas such as “good governance, public health, agriculture and livestock (and) youth development,” in the next fiscal year, the government said in a budget document presented in parliament by Finance Minister DomicienNdihokubwayo.
Ndihokubwayo said 76.4% of the budget would be funded from tax revenues while the rest would be from aid.
The economy of the central African nation, which relies on exports of coffee and tea, is seen expanding at 3.6% in the next fiscal year. The minister did not give a figure for the previous period.
Burundi’s economy is reeling from the impact of pandemic and years of violence and lawlessness under the deceased former president Pierre Nkurunziza. The government will crack down on corrupt practices including embezzlement and diversion of public funds, the minister said.
(Except for the headline, this story has not been edited by The Finance World staff and is published from a syndicated feed.)
