Lao Hamutuk 16 October 2009 On 15 September, the Vice Minister of Finance delivered the draft Timor-Leste General State Budget for 2010 to the President of Parliament. It will be debated in Commission C for the next few weeks, and then in the Parliamentary plenary.La'o Hamutuk has posted all three volumes of the budget documents (850 pages), in both English and Portuguese, to our website at
http://www.laohamutuk.org/econ/OGE10/09OJE2010.htm.
We will provide summaries, analysis and commentary during the next few days.
Total expenditure by the State of Timor-Leste in 2010 is estimated to be $637 million, reflecting a decrease of $44 million (6.9%) from the total appropriations for 2009.
Actual expenditures during 2009 are likely to be significantly less, since the heavy oil power generation and national electric grid project has run into problems. That project is allocated $50 million in the 2010 budget, less than one-third of the $160 million that the 2009 State Budget expected to spend on it during 2010. The 2010 budget does not project any money for this project in future years, and it is scarcely mentioned in the text.
The budget estimates the sustainable income (ESI) from the Petroleum Fund for 2010 at $502 million (an increase of $94 million since last year) and proposes to spend all of it, but does not ask to go above ESI. It also anticipates that during 2009, actual government expenditures will not exceed the ESI of $408 million.
This budget does not propose to borrow money during 2010, but includes a discussion of options for borrowing in the future.
website: http://www.laohamutuk.org skype: cscheiner
No comments:
Post a Comment