Government of Timor-Leste

The Government, through the Ministry of Finance, is preparing the General State Budgets (GSB) for 2020 and 2021 Draft Laws, to be delivered to the National Parliament, on September 15^th and October 15^th, respectively.

The GSB 2020 draft Law Proposal was approved yesterday, August 26^th, 2020, at the Council of Ministers meeting, with a total amount of US$ 1.497 billion, to cover the program needs and national priorities defined by the 8^th Constitutional Government, namely, in terms of the social and economic sectors stabilization, of ongoing institutional reform processes, of response to COVID-19 related expenses and of economic recovery measures. During the meeting, necessary adjustments to the timetable for the State Budget for 2020 and 2021 preparation, to meet the established deadlines, were also analysed.

The General State Budget will be financed by domestic revenues, withdrawal from the Petroleum Fund, treasury balance and loans.

The 2021 GSB is being prepared with the objective of recovering and strengthening development, based on national priorities from the Government's Program, the National Development Strategic Plan, the Sustainable Development Goals, the Performance of Fiscal Policy, the Impact of COVID-19 and the Economic Recovery Plan, in order to define a fiscal envelope for the year 2021, appropriate to the Nation real needs.