Timor-Leste’s 2015 budget outlines expenses of US$1.57 billion

4 December 2014

The government of Timor-Leste (East Timor) this week requested that members of parliament approve the State Budget for 2015, which includes expenses of US$1.57 billion.

The costs included in the budget are broken down into salaries (US$184.1 million), services and human development activities (US$504.7 million), public transfers (US$340.3 million), lesser capital (US$36.7 million) and development capital (US$504.3 million).

The Prime Minister of Timor-Leste said the government expects inflation in 2015 of between 4 percent and 6 percent, which will reduce poverty and increase the competitiveness of Timorese businesses.

“Lower inflation means that the purchasing power of citizens will increase and decrease poverty. It will also lead to smaller increases in costs for businesses, which will increase the international competitiveness of Timorese companies,” said Xanana Gusmao.

Poverty in Timor-Leste, according to data for 2009, affects 41 percent of about 1.1 million East Timorese. (macauhub/TL)