Government approves the Draft Law Proposal of the State Budget for 2018

Thu. 02 of August of 2018, 23:25h

The Council of Ministers met in the Government Palace in Dili and approved the Draft Law Proposal approving the State Budget for 2018, presented by the Minister of Finance in office, Sara Lobo Brites. The Budget has a value of US $1,279.6 million and includes all income and expenditure of the State and Social Security of Timor-Leste during the period from January 1 to December 31, 2018. The OGE for 2018 is adjusted according to the needs of the new Government Program approved last week in Parliament, by the new Organic Structure of the Eight Constitutional Government and the performance of the budget execution in the duodecimal regime. Compared to the State Budget of 2017 there is a reduction of 9.5%. The approval of this budget proposal is of paramount importance, restoring normality in budget execution, and allowing the priority needs to be met, favoring the resumption of economic growth, providing conditions for the installation of the Eight Government and for launching the bases for the implementation of the governance program.