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Press Release
Meeting of the Council of Ministers on July 17th, 2024
The Council of Ministers met at the Government Palace in Dili and decided to grant full powers to the Vice Prime Minister, Francisco Kalbuadi Lay, to sign, on July 22nd, in Geneva, the instrument of acceptance of the Protocol of Accession of the Democratic Republic of Timor-Leste to the Marrakesh Agreement establishing the World Trade Organization (WTO), signed in Abu Dhabi on February 26th, 2024, and the Protocol amending the Marrakesh Agreement, the Agreement on Fisheries Subsidies, signed in Geneva on June 17th, 2022, which prohibits certain forms of subsidies harmful to fisheries.
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The Vice Prime Minister, Francisco Kalbuadi Lay, was also given full powers to sign agreements with:
○ Strengthening Investment Cooperation in the Digital Economy;
○ Promoting Investment Cooperation in Green Development;
○ Promoting the Implementation of the Global Development Initiative;
○ Promoting Chinese cooperation infrastructure projects.
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The Council of Ministers granted full powers to the Vice Prime Minister, Coordinating Minister for Social Affairs and Minister for Rural Development and Community Housing, Mariano Assanami Sabino, to sign a memorandum of understanding with the Minister of the Interior and Security of the Government of the Republic of Korea to cooperate in the development of the Saemaul Undong initiative. This program, launched in South Korea in the 1970s, aims to improve local infrastructure, increase agricultural productivity, and promote community socio-economic development.
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The Council of Ministers decided to approve the total amount of expenditure associated with each budget heading for the 2025 General State Budget (2025 GSB), with the overall amount expected to be US$ 1.8 billion. This amount includes the budgets of the Central Administration, Social Security, and the Special Administrative Region of Oe-Cússe Ambeno (RAEOA – acronym in Portuguese).
The distribution of the aggregate budget ceiling for the Central Administration in the 2025 GSB is based on the sectors defined by the Government Program and the National Strategic Development Plan. The Social Capital Sector receives an allocation of 38%, followed by the Institutional Framework Sector with 36%, Infrastructure Development with 16%, and Economic Development with 10%.
The disaggregated ceilings will be distributed to public entities next Tuesday, July 23rd, 2024, and they will have 11 days to prepare their budget proposals. The Budget Review Committee will analyse these proposals from August 12th to 27th, 2024. The 2025 GSB Law Proposal is expected to be submitted to the National Parliament by October 1st, 2024. END