Timor-Leste economy sees expected growth of 6.8 pct in 2015

6 October 2015

The economy of Timor-Leste (East Timor) is expected to grow 6.8 percent this year, or two tenths of a percentage point less than in 2014, increasing to 6.9 percent in 2016 and 7. percent in 2017, according to the World Bank publication “East Asia Pacific Economic Update”.

These figures show that growth in Timor-Leste this year will be 2.5 percentage points above the average for developing countries and 2.2 percentage points above the average for developing countries in the region.

The country is this year expected to record the fourth largest economic growth among the 14 countries analysed in the study, behind Papua New Guinea (8.7 percent), China and Cambodia, both with a growth forecast of 6.9 percent for this year.

The study also includes the economies of Indonesia, Malaysia, Philippines, Thailand, Vietnam, Laos, Myanmar, Mongolia, Fiji and Solomon Islands.

The study recognises the impact of the fall in oil prices on Timor-Leste, where the oil sector is “central to government revenue” and to the national economy, highlighting the “pressures” that “small economies dependent on the extractive industries,” continue to feel. (macauhub/TL)