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Burundi, Economy

ethnic tensions, agricultural economy, foreign aid, political instability, GDP

One of the world’s poorest nations, Burundi has a predominantly agricultural economy. The country’s estimated gross domestic product (GDP) was $0.7 billion in 2000. Export earnings are dominated by a single crop: coffee. National budget figures for 1999 showed a large deficit, with $128 million in revenues and $187 million in expenditures. The government and foreign companies dominate the export sector of the economy. Burundi is heavily dependent on foreign aid, principally from Western Europe. Past austerity measures have added to ethnic tensions. In turn, ethnic and political instability has severely affected Burundi’s production capacity. Burundi’s labor force numbers 3.7 million people, of which 15 percent are engaged in agriculture, 22 percent in industry, and 59 percent in services.

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Article key phrases:

ethnic tensions, agricultural economy, foreign aid, political instability, GDP, Western Europe, expenditures, foreign companies, coffee, agriculture, percent, revenues, government, people, industry, services, turn

 
 

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