Democratic Republic of Timor-Leste: 2024 Article IV Consultation-Press Release; Staff Report
December 17, 2024
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Timor-Leste has made impressive progress since independence but remains a
fragile post-conflict nation with an under-diversified private sector. The economy
remains highly dependent on the public sector, which has been financed primarily by
proceeds from the Petroleum Fund, in which the state has invested its substantial
savings from past oil and gas production. But production is dwindling and large
withdrawals from the PF, should they continue, would lead to its full depletion by the
end of the 2030s. Over the past decade, a high share of public spending relative to the
economy has delivered only modest growth and development.
fragile post-conflict nation with an under-diversified private sector. The economy
remains highly dependent on the public sector, which has been financed primarily by
proceeds from the Petroleum Fund, in which the state has invested its substantial
savings from past oil and gas production. But production is dwindling and large
withdrawals from the PF, should they continue, would lead to its full depletion by the
end of the 2030s. Over the past decade, a high share of public spending relative to the
economy has delivered only modest growth and development.
Subject: Commodities, Debt sustainability analysis, Expenditure, External debt, Fiscal policy, Fiscal stance, Food prices, Government debt management, Inflation, Oil, Prices, Public debt, Public financial management (PFM)
Keywords: Debt sustainability analysis, Fiscal stance, Food prices, Government debt management, Inflation, Oil
Pages:
80
Volume:
2024
DOI:
Issue:
342
Series:
Country Report No. 2024/342
Stock No:
1TLSEA2024002
ISBN:
9798400293375
ISSN:
1934-7685
