Seminar on inflation and regional economic outlook
The Ministry of Finance, represented by the Directorate-General for Research and Analysis and the mission of the International Monetary Fund (IMF), held on November 24, at the hall of the Ministry of Finance, a seminar on "Inflation and regional economic outlook".
Antonio Freitas, Director-General of the Directorate-General for Analysis and Research of the Ministry of Finance, in his speech said that "the IMF mission is very important for Timor-Leste since it aims to evaluate the economic progress that was made over a year and that saw the involvement of technical staff of the Ministry of Finance, NGOs, mass media and academics".
He added that "the IMF noted our high inflation, especially in the month of September, an inflation of 13.8%. We know very well that Timor-Leste is on the list of countries with low income per capita therefore our economy has not had a big boost. The IMF has no objection in the fact that the government allocates its budget to the infrastructure fund to the extent that we need this to start-up development in Timor-Leste".
Antonio Freitas pointed out that " on the issues that were raised today, especially on our part, the IMF mission noted that the Government had made a good investment of the State Budget where the major part of this investment was allocated to infrastructures. We chose the same methodology that other countries have chosen, an international methodology to acquire global information and not just partial information from the government".
