As of late, the small landlocked nation of Burundi has been in the news for all the wrong reasons. The country has been plagued by political unrest and violence, which has led to many of its citizens fleeing the country in search of safety. bitcoin era platform is one of the most authentic platforms that you can use for gaining information about BTC trading.
However, there is one ray of hope for Burundi – Bitcoin (BTC).
Cryptocurrency could potentially have a huge impact on the war-torn country, as it offers a way for people to send and receive money without having to go through traditional financial institutions. This could help to boost the economy of Burundi, as well as provide much-needed relief to its citizens.
In addition, Bitcoin could also help to improve the security situation in Burundi. Cryptocurrency is incredibly difficult to counterfeit, which means that it could be used to help reduce the amount of fake money in circulation.
Fake money is one of the main causes of inflation in Burundi, and by reducing the amount of fake money in circulation, Bitcoin could help to stabilise the economy.
Of course, Bitcoin is not a panacea for all of Burundi’s problems. However, it does offer a potentially valuable tool that could help to improve the country’s economy and provide relief for its citizens.
The Republic of Burundi is a landlocked country in the African Great Lakes region. The capital city is Bujumbura. Burundi’s economy is predominantly agricultural with around 80% of the population engaged in subsistence farming. Coffee and tea are the main export crops. The country has significant potential for hydroelectric power generation but only a small proportion of this potential has been exploited.
Burundi is one of the world’s least developed countries and ranks 155th out of 188 countries on the 2017 Human Development Index. In 2016, 48% of the population lived below the national poverty line. Nearly two-thirds of households in Burundi are food insecure.
The UNDP estimates that more than 60% of the population lives in poverty. About 85% of the population is engaged in subsistence agriculture, with little surplus production for sale. Coffee and tea are the country’s main export crops.
The Burundian franc is the official currency of Burundi. It is subdivided into 100 centimes. The average exchange rate for the Burundian franc against the US dollar was BIF 575/USD in 2017.
Inflation was 6.9% in 2017 and is expected to remain at around 7% in 2018. The government’s budget deficit was an estimated 4.5% of GDP in 2017 and is projected to widen to 5.2% of GDP in 2018.
Burundi has significant potential for hydroelectric power generation but only a small proportion of this potential has been exploited. The country has an estimated 2,000 MW of hydropower potential but only about 50 MW is currently being utilised.
The World Bank has provided support for the development of Burundi’s hydropower sector through the Hydroelectricity Regulatory Authority Project (HRAP). The project is designed to help the government develop a regulatory framework for the sector and attract private investment.
The government has also signed a power purchase agreement with the Rwanda Energy Group (REG) for the export of up to 200 MW of electricity from the proposed Rumonge hydroelectric plant. The plant is expected to be completed by 2020.
Burundi is heavily dependent on imported energy, specifically petroleum products. The country imported an estimated $215 million worth of petroleum products in 2017, which represented about 17% of total imports.
The government has been working to increase the domestic production of energy and reduce reliance on imported energy. In 2016, the government launched the National Energy Strategy (NES), which aims to achieve universal access to modern energy services by 2030.
The economy of Burundi is heavily dependent on agriculture, with more than 80% of the population engaged in subsistence farming. The country also has significant reserves of nickel and cobalt. However, Burundi remains one of the poorest countries in the world, with a GDP per capita of just US$365 in 2017.
Burundi has been working hard to develop its economy and attract foreign investment. In recent years, the government has implemented a number of reforms to improve the business environment and attract more foreign direct investment (FDI). These efforts seem to be paying off, with FDI inflows increasing from US$74 million in 2015 to US$244 million in 2016.