The African nation of Burundi wants to draw a line under its three-year period of unrest and troubles. The crisis is over, Burundi’s government insists at the launch of plans for a mining- and agriculture-led economic revival.
Although there are still reports about unrest and human-rights abuses, and although the EU imposed sanctions, the Burundi government wants to move on. The country that ranks 185th out of 189 countries on the Human Development Index, badly needs investments.
Burundi has East Africa’s smallest economy, with agriculture responsible for more than a third of output. The goals of the government’s 10-year plan are ambitious: increasing the annual economic growth from 2 percent in 2016 to 10.7 percent by 2027 as well as doubling per capita gross domestic product to $810.
According to Bloomberg numbers, Burundi is investing $81.2 million to double coffee production by 2021. Burundi also intends to develop a number of hydropower projects. The government aims for a 47 percent rise in revenues from mining. The country holds about 6 percent of the world’s nickel reserves and exports gold, coltan and rare-earth minerals.
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