30 January 2011

TLGov: 2011 State Budget was approved by the National Parliament

Government House, Dili, East Timor
Government of East Timor, Dili Fri. January 28, 16:47h - This Friday, 28th of January, the Timorese National Parliament concluded the discussion on the Bill pertaining to the 2011 Budget. The final vote and overall debate was held today with the majority of legislators approving the budget.

After almost one month of public hearings by the Standing Committees and 13 days of debate and vote the Budget suffered changes resulting from the of 142 proposals presented by the Members of Parliament.

Due to the approved, the total increased budget proposal it was necessary to reformulate the article about transferences from the Petroleum Fund, to allow for transferences over the Estimated Sustainable Income (ESI).

The maximum amount of those transferences increased from 734 million american dollars to 1,055 billion american dollars, exceeding the ESI by 321 million dollars. The main issue consisted in adding 282 million american dollars to the initial allocation of 166.741 million american dollars in the Infrastructure Fund for electricity supply a total of 448.741 million american dollars.

The State Budget Law for 2011 was, in this way approved by final vote, having obtained 42 votes in favour, 21 votes against and 1 abstention.

The Law is to be edited by the Committee C – Economy, Finance and Anti-Corruption, before sending to the President of the Republic for promulgation.

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