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Nickel Royalty Helps Burundi Boost Its Spending Plan by 40%

A market in Bujumbura, Burundi.

A market in Bujumbura, Burundi.

Photographer: Yasuyoshi China/AFP/Getty Images

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Burundi plans to increase its national budget by almost 40% for the fiscal year starting July as it eyes revenue from a nickel concession it awarded to a new partner.

Spending plans for the nation of around 12 million people will probably increase to 2.4 trillion francs ($1.2 billion) for 2022-23, according to a cabinet statement. The government targets a 30% wider budget deficit of about 197 billion francs.