The Burundi senate passed 3.9 trillion Burundian francs as the country’s annual budget for the financial year 2024-2025 an increase of 18 percent from financial year ending this July.
The 2023-2024 budget stood at 3.3 trillion francs compared to the 3.9 trillion for the financial year 2024-2025.
The Burundi finance minister Audace Niyonzima said that the increment was due to the forecast of public investments to ensure economic growth of the country.
The overall deficit of the 2024-2025 budget amounts to 449 billion, according to the finance minister on the deficit the State will resort to external financing of BIF 223 billion and net domestic financing of BIF 226 billion francs.
The country’s budget for the financial year 2024-2025 was unanimously adopted by the senators.
The Burundi Finance Minister Audace Niyonzima said that the budget comes in a global context where the Government is committed to continuing public finance reforms through the consolidation and consolidation of public finances, “the development of new tools of planning and management of public finances (budget-program reforms) in this case the multi-year budgetary and economic programming document (DPBEP), the public investment program (PIP 2024-2027), the medium-term expenditure framework ( ministerial CDMT), the medium-term debt strategy (SDMT) and the annual performance projects (PAP) of the ministries in alignment with the planning documents namely the Vision Burundi emerging country in 2040 and developed country in 2060,” he said.
“The 2024-2025 budget is part of a performance logic aimed at increasing effectiveness and efficiency in the management of public expenditure to improve the standard of living of citizens,” said Mr. Niyonzima.