News

Timor’s draft budget for 2015 discussed in Parliament

East Timor’s Prime Minister Xanana Gusmão presented the State Budget proposal for 2015 in Parliament this week.

The draft budget submitted by the Government forecasts spending of US$1.57 billion for next year, a slight increase from this year’s budget. The proposal, approved by the Council of Ministers on October 2, forecasts a surplus of US$1 billion for 2015.

The Government expects total revenue of US$2.5 billion for 2015. It

also expects to spend US$184 million on wages and salaries, US$504 million on goods and services and US$340 million in public transfers.

While presenting the draft budget at Parliament, Mr Gusmão said the country couldn’t lose sight of its development pillars.

He said the Government has to keep a sustainable tax policy and economic growth that benefits all citizens, invest in high quality infrastructure and qualified human resources, and protect the most vulnerable citizens.

“The management and protection of our natural resources is a matter that concerns every Timorese. It is a matter of dignity and national sovereignty,” the Prime Minister said.

The draft budget is now to be discussed in detail by the Parliament. The debate is expected to take not more than 10 working days.