State Budget for 2015 under discussion in the National Parliament
The Draft Law on the General State Budget (GSB) for the 2015 financial year began to be analysed and discussed, in general terms, this Monday, December 1st, in the National Parliament.
As a result of the annual "Yellow Road" workshop, held in late May by the Ministry of Finance, which joined a broad group of community stakeholders to identify, analyse and discuss the sustainability of the next budget, and a series of meetings to establish the Fiscal package for the 2015 budget, the Council of Ministers approved the draft law for the 2015 GSB in the amount of $1.57 billion, on October 2nd. This value represents only a slight increase compared to the 2014 General State Budget.
The Prime Minister, Kay Rala Xanana Gusmão, presented the Draft Law at the Plenary Meeting of the National Parliament noting that “when considering the 2015 State General Budget we cannot lose sight of four fundamental goals:
Firstly, that tax policy is sustainable in the medium and long term.
Secondly, that there is high quality sustainable economic growth that benefits all Timorese, from our urban to our rural areas.
Thirdly, that we invest in high quality infrastructure and qualified human resources to underpin economic growth, service delivery and the development of all productive sectors of the Nation.
Fourthly, that we protect all the Timorese, particularly the vulnerable and deserving who do not always directly benefit from economic growth.”
To achieve these objectives, the Head of Government recalled that “the management and protection of our natural resources is a matter that concerns every Timorese. It is a matter of dignity and national sovereignty!”
Throughout his speech, the Prime Minister mentioned the progress made by Timor-Leste, which is recognized nationally and internationally and transversal to several sectors, and the Government’s will to continue to take act in this regard:
We must maintain consistency regarding priority investments in areas of physical, human and social development, while ensuring the necessary prudence for enabling fiscal sustainability. In order to do this we are proposing to reduce current expenses in this budget, which is why we are only proposing the required minimum increase. (…) so as to ensure fiscal sustainability and to guarantee that demand in the economy is consistent with low inflation.”
After the opening speech for the 2015 GSB, the parliamentary leaders (FRETILIN, CNRT, PD and Frente Mudança) presented their statements, followed the presentation of Committee C’s Report, which is the Committee responsible for public finances.
The Plenary Meeting to discuss the GSB in general terms will take place for three days. The voting on the general terms will be followed by the discussion of each individual section, which may last to a maximum duration of 10 workdays.
The debate in the National Parliament will be broadcasted live on Radio - Television of Timor-Leste (RTTL).
