22 July 2014
Timor Leste oil fund totals US$15.7 billion in the first quarter
ETLJB 22/07/2014 From (macauhub/TL) 18 July 2014 - The Timor Leste (East Timor) Oil Fund at the end of the first quarter of the year totalled US$15.7 billion, according to a report on the fund from the first three months of the year.
At the beginning of 2013 the Fund totalled US$11.8 billion, and at the end of the year had risen to US$14.9 billion.
In 2013, Gross Investment Income generated by the Fund rose by US$865 million.
Government spokesman and Minister of State Ágio Pereira said “the Timor Leste Oil Fund is growing well and generating good returns, which boost its sustainability. Our strategy is to use the Oil Fund to develop critical sectors and supporting the economic diversification of our nation is a positive strategy.” Source: http://www.macauhub.com.mo/en/2014/07/18/timor-leste-oil-fund-totals-us15-7-billion-in-the-first-quarter/