01 November 2009
East Timor budget for 2010 prioritises infrastructure
East Timor budget for 2010 prioritises infrastructures [ 2009-10-28 ] Dili, East Timor, 28 Oct - The priorities of the East Timor State Budget for 2010 are water supply and the road network, agricultural productivity and professional training, the Secretary of State for the Council of Ministers said Tuesday in Dili.
According to Ágio Pereira, secretary of State for the Council of Ministers and spokesman for the government led by Xanana Gusmão, the biggest slice of the budget will be applied to reconstruction of roads and water supply to the population of the country's districts, at an estimated cost of US$96.1 million, with which the government hopes to stimulate local economies, strengthen the private sector and create employment opportunities.
The budget proposal for 2010, which will be presented to the Parliamentary Commission for the Economy, Finance and Combating Corruption by the Finance Minister, Emília Pires, before the plenary discussion, confirms cuts in the expenditure of several ministries.
The proposal outlines total state expenditure of US$637 million in 2010, which is a reduction of US$44 million (6.9 percent) compared to the total for 2009.
Non oil revenues are estimated to be US$87.3 million and the fiscal deficit of US$549.6 million, which should be covered by the oil fund and cash reserves.
Development partners are expected to contribute a total of US$199 million, which is 23.8 percent of the total Budget. (macauhub)