This Country Economic Memorandum (CEM)is the first for Burundi since the 1980s. It has beendeveloped in collaboration with the government of Burundi.The CEM has been prepared in cooperation with the Africandevelopment bank and the U.K. department for internationaldevelopment. Burundi is one of the poorest countries in theworld, and has suffered from many years of civil conflictand its consequences. In the last years, peace has beenestablished and a promising recovery of the economy hasstarted. Economic growth rates, however, are not in linewith what has been projected in the latest poverty reductionstrategy paper (September 2006). Real Gross Domestic Product(GDP) growth had been projected to average almost 7 percentbetween 2006 and 2009 in that strategy paper, but actualgrowth will average just above 4 percent for the sameperiod. The report reviews the economic developments in thepast and tries to identify the most binding constraints togrowth. The CEM then sets out a strategy to address theseconstraints to promote increased and participatory growth,reduce poverty, and improve the livelihood of thepopulation. The report draws on a number of backgroundstudies conducted on various subjects relevant to thecountry's economic development and on existing reportsand studies from the government of Burundi, the World Bank,other donors, and academics. The CEM provides a synthesis ofvarious recommendations and attempts to prioritize andsequence key actions.
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