05 April 2009

Fiscal Year 2008 - East Timor Budget Execution Report up to Fourth Quarter

Republica Democratica de Timor-Leste

Fiscal Year 2008

Budget Execution Report up to Fourth Quarter


TABLE OF CONTENTS

Overview of Financial Position ……………………………………… 1
1. Budget Expenditure Estimates ……………………………………… 1
2. Fiscal Estimates ……………………………………… 2

Budget Execution Whole of Government ………………………… 3
1. Overall Budget Execution ……………………………………… 3
2. Non-Petroleum Revenue Receipts ……………………………………… 4
3. Expenditure by Appropriation
Categories
……………………………………… 5
4. Expenditure by Items ……………………………………… 6

Carryovers Execution and Cash Injection ………………… 6

Conclusion ……………………………………… 7

Statements

Summary of Revenues ……………………………………… 8
Statement of Appropriation ……………………………………… 10
Statement of Expenditure by Items ……………………………………… 127
Statement of Carryover Execution ……………………………………… 128

Budget Execution Report Fourth Quarter FY 2008

This report is the first to be produced on a cash basis. This reflects the changes made to the budget and reporting process last year. Therefore the actual revenue and expenditure are on cash basis only and do not include any obligations and commitments, in this sense the data presentation is different to prior reports, which included this extra amounts.

Highlights

• The budget execution in cash during the fiscal year 2008 has been the highest ever reaching US$
479.5 million.

• The Capital & Development budget execution of US$ 87.6 million is also the highest ever and
surpasses the cumulative Capital & Development expenditure of all the previous years put
together.

• Taking into account cash execution of carryovers of US$ 73.3 million, the total cash injection into
the economy was US$ 552.8 million.

Overview of Financial Position

1. Budget Expenditure Estimates

The Original Budget of Financial Year 2008 was approved on 31 December 2007 vide Law No 10/2007. During the Financial Year, Parliament rectified the State Budget and approved vide Law Number 12/2008 which was published in Jornal da Rep├║blica on 5 August 2008. The revised Appropriations approved were US $ 788.312 million.

The revised Non-Petroleum Revenue Receipts for Financial Year 2008 were estimated at US $ 79.6 million. Parliament approved revised transfers from Petroleum Fund of up to US $ 686.8 million during the year, however, the Court of Appeal in its decision held that an amount not exceeding US$ 396 million could be transferred from Petroleum Fund to the State General Account during the Fiscal Year. Therefore this decision was adhered to and the final budget of ESF has been taken to be the same as the expenditure of US$ 53.602 million.

see full report at http://www.mof.gov.tl/en/treasury/download/en/Q4_008_EN_Final.pdf [18.5 mb]
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