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03 July 2008

TLGov: Amending Budget 2008 provides for Economic Stabilisation Fund: the Service of the Peoples Needs

IV CONSTITUTIONAL GOVERNMENT

SECRETARIAT OF STATE COUNCIL OF MINISTERS

Information

Amending Budget 2008 provides for Economic Stabilisation Fund: the Service of People's Needs

Dili, July 2, 2008The proposed amendment of the General State Budget for 2008 - alias amending budget - foresees the creation of the Economic Stabilisation Fund, with a capital of 240 million USD and that is an important tool that the AMP government has to cope with recession economy that is felt worldwide, including the food crisis and rising cost of food in the world and, as well as combat the negative effects that rising fuel prices and materials of construction can reflect the national .

The recent International Summit on Global Food Situation, which 180 countries met recently in Rome, concluded that the medium-term food prices will remain in place at current levels. That is, the price of consumer goods will remain high, which has caused negative impacts in several countries, in life and health of the population.

Furthermore, the increase in the price of construction materials is also cause for great concern, because it can delay or prevent the development plans of the government and discourage investment by the private sector.

To reduce the impact of prices of food and construction materials, in the national economy and the population of East Timor, the government created the Economic Stabilisation Fund, which has three main objectives:

-- Ensuring the supply of goods and food security;
-- To stabilise prices through market intervention, and
-- Ensuring the supply of materials for construction.

Thus, the Government may allow the supply of essential goods and products at reasonable prices and ensure the continuation of the development process.The Government is in a situation where it need not wait for urgent support from development partners while the population suffers!

The AMP Government prepares today the future of this nation and amending budget, which is now being debated in the National Parliament, one hundred (100) young Timorese students can continue their studies abroad, through the Programme of Scholarships International Timor - Leste, subsidized by the government.

The IV Constitutional Government, through the Ministry of Education, has already started the process of nominations for the selection of the 100 young Timorese who will further their studies abroad, to levels of post-graduate, master's and PhD.

This amendment to the state general budget of 2008 increases the capacity of Timorese youth, which represents a great benefit, not only for the very young, but above all for the people of East Timor, which have more reasons to believe and rely on the Future of the Nation.

Despite being recognized by all the difficulty of solving the problem of internally displaced persons, created by the crisis of 2006 and that previous governments failed to resolve, the government AMP already closed, among other camps of displaced people in the Guido Valadares Hospital, in the Garden in front of the port of Dili and the building of the former Chinese consulate, allowing you to return home to about 2,300 families!

Other camps will close briefly and amending budget vai allow this to continue the policy followed so far in this area by IV Constitutional Government, which results in considerable benefits to public health and welfare of the families who one day had to leave their homes.

The government AMP chose the year 2008 as the Year of Reform, preparing the state and its institutions for the challenges that the country faces.

This amendment to the state general budget of 2008 meets necessities of the people today and to prepare the future of the nation.

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